Unit 23 – 25Central Banking, Money & Taxation Exchange Rates The Business Cycle Business English Week 13 Professor Hayashi
Today’s Class• attendance & free homework!• review presentations• tax vocab and discussionBREAK• world currencies and vocab• the business cycle
Unit 23Central Banking, Money & Taxation
Vocabulary 2E• Skim the text for the answers1. depreciation2. disincentive3. regressive4. consumption5. self-employed6. national insurance7. perks8. tax shelters9. tax-deductible10.tax havens
Exercise 2F – Discussion – pg. 138For taxation/government spending Against taxation/government spending1. All businesses require roads to allow staff, 2. A wealth tax taxes money that has alreadysupplies and customers to get to them been taxed before, perhaps many times, and is therefore unethical.3. Adam Smith: The subjects of every state 4. Business investments should be fully tax-ought to contribute toward the support of the deductable in the year that they are incurred,government in proportion to their respective not amortized or depreciated over anabilities extended period of time.6. If the general population is unhealthy, and 5. Redistributive taxation is, quite simply,unable to work, firms won’t find either enough theft.staff or customers 7. Income tax creates a bias against all income- generating activity, which makes everyone poorer.9. People will stay away from retail outlets in 8. It isn’t people who are taxed, but productiveareas of environmental damage or urban activities.decay 11. The money people earn is their money.10. Widespread poverty always leads to crime 13. Why shouldn’t people be born rich?12. How would companies get qualified staff 14. Taxes take away people’s hard-earnedwithout the public education system? private property.15. Society should should share financial 16. Taxes encourage consumption, reduces
Unit 24 Exchange RatesHow many types of currencies can you name in 2 minutes?
World Currencies• http://en.wikipedia.org/wiki/List_of_circulating_
1D Vocabulary – Pg. 142 - 143 exercise 1 exercise 2 exercise 2 1. b 1. adjust 1. adjust 2. d 2. convert 2. convert 3. a 3. abolish 3. abolish 4. c 4. suspend 4. suspend 5. f 5. fluctuate 5. fluctuate 6. e 6. diverge 6. diverge
Reading 1B – pg. 146• Read the text and answer the question, then do exercise 1dWhy are there periods when a country’s economy works more strongly than others?There are changes in the level of consumption, resulting from changes in interest rates or changes in people’s beliefs about the future, and changes in the level of wages and salaries, all of which lead to changes in the level of investment; and technological, and political and demographic changes.