UNIT 1 : ECONOMICS

I.Short question
1.What does well-being mean?
Well-being is the satisfactions people gain from the products and services they
choose to consume
2.Economics is the study of the production and consumption of goods and
transfer of wealth to produce and obtain those goods.
3.They are macroeconomics and microeconomics.
4.Microeconomics focuses on the actions of individuals and industries.
5.People who study economics are called economists
6.Macroeconomics analyzes the economic activity of an entire country and the
international marketplace .
7.Studing economics can help people understand human thought and behavior.
II/Complete the sentences
Well-being includes the satisfaction of people gain from the products and
services they choose to consume.
Economics is the study of how people choose to use resources and to
satisfy their needs and wants.
Microeconomics focuses on the actions of individuals and industries.
III/Long question
1.What is economic theory of Adam Smith ?
It’s the Classical Shool. It says that because Đó là trường phái cổ điển . Nó
of their own interest, people produce goods nói rằng bởi vì lợi ích của
and wealth that benefited all of society. He chính họ, con người sản xuất
believed that government should not restrict hàng hóa và của cải cái mà
and interfere in markets because they could được lợi cho xã hội. Ông ấy tin
regulate themselves. rằng chính phủ không nên hạn
chế và can thiệp vào thị trường
bởi chúng có thể tự điều chỉnh

2.What is economics theory of Karl Marx?

 It’s Marxism. It states that capitalism
will eventually fail because factory
owners and CEOs exploit labor to
generate wealth for themselves. He
believed that such owner’s
exploitation leads to social unrest
and class conflict . Therefore ,
laborers should own and control the
means of production to ensure the
economic and social stability
Đó là chủ nghĩa Mac. Nó tuyên bố
rằng Chủ nghĩa tư bán cuối cùng cũng
sẽ thất bại, bởi vì các ông chủ nhà
máy và các giám đốc điều hành bóc
lột người lao động để tạo ra tài sản
cho chính họ . Ông đã tin rằng sự bóc
lột này sẽ dẫn đến bất ổn xã hội và
phân biệt chủng tộc . Do đó, những
người lao động nên làm chủ và kiểm
soát tư liệu lao động

3.What does economics study?

Economics studies how people Kinh tế học là việc nghiên cứu về sản
choose to use resources the most xuất và tiêu dùng của hàng hóa và sự
effectively to produce goods and vận động của tài sản để sản xuất và
services, to best satisfy human đạt được những hàng hóa khác .
demand. Kinh tế học là việc nghiên cứu về
Resources can be divided into natural cách con người lựa chọn sử dụng
resources, human resources and nguồn lực
capital are limited , while human
demand are unlimited. So it’s
necessary to study economics issue.
1. What is the definition of “economics”?
Economics is the study of how people choose to use resources to best satisfy human
demand.
13. What are two branches/ types of economics?
Economics can be divided into microeconomics and macroeconomics
14. What is the economic theory of Adam Smith?
It is the Classical School.
15. What is the economic theory of Adam Smith about?
It says that because of their own interests, people produce goods and wealth that
benefit all society.
17. What is the economic theory of Karl Marx?
It is Marxism.
18. What is the economic theory of Karl Marx about?
Marx believed that owners’ exploitation of labor leads to social unrest and class
conflict, so laborers should own and control means of production , in order to ensure
the social and economic stability
20. What is the economic theory of Keynes?
It is Keynesian School.
21. What is the economic theory of Keynes about?
The theory of Keynes describes how governments use macroeconomic policies to
regulate the economy, ensuring the social and economic stability.
12. What are 3 main (major) issues studied in economics?
They are production, distribution and consumption of goods and services
2. What are 3 types of economic systems/ models?
3 types of economic systems/ models are: market economy, planned economy and
mixed economy
9. What is mixed economy? / What is the definition of mixed economy?
- It is an economic system in which some goods and services are produced by the
government and firms
10. What is planned economy? What is the definition of planned economy?
- Planned economy is an economic system in which all production, distribution
and consumption quotas are fixed beforehand by the government.
3. What is market economy? What is the definition of market economy?
Market economy is an economic system in which economic relations are
regulated by the law of supply and demand quan hệ kinh tế
-

UNIT 2
3. What is market economy? What is the definition of market economy?
Market economy is an economic system in which economic relations are regulated
by the law of supply and demand. các quan hệ kinh tế
6. What is planned economy? What is the definition of planned economy?
Planned economy is an economic system in which all production, distribution and
consumption quotas are fixed beforehand by the government
9. What is mixed economy? / What is the definition of mixed economy?
- It is an economic system in which some goods and services are produced by the
government and some by private enterprise

UNIT 3: MICROECONOMICS
I/Short question
1.What is microeconomics concerned with?
Microeconomics is concerned with decisions made by consumers, worker,
investors, business firms and so on.
2.What do consumer theory describe?
Consumers theory describe how consumers based on their preferences & limited
resources, maximize their well-being .
3.What is the theory of firms describe?
The theory of the firms describes how the trade-offs can be best made.
4.Give some examples explaining the trade-off made by consumer?
Consumer trade-off current consumption for future consumption.
Consumer trade-off the purchase of more of some goods with the purchase of
less of others.
5. Give some examples explaining the trade-off made by worker?
Woker trade-off working now for continued education.
They trade-off labor for leisure.
II/Complete the sectences
1.Microeconomics/be/concered/decision/make/consumer/woker/investor/
business firm
Microeconomics is concerned with decision made by consumers, wokers,
investors and business firms.
2.Consumer theory/ describe/how/consumer/base on/ prefence/ maximize/ well-
being
Consumer theory describes how consumers based on their preferences,
maximize their well-being.
3.The theory/firm/ describe/ how/the/ trade-off/be/best/make
The theory of the firm describes how the trade-offs can be best made
1. What are 3 important themes of microeconomics?
- 3 important themes of microeconomics are: the allocation of scarce resources, the
role of prices and the role of markets.
4. What are limited resources of consumers?
The limited resources of consumers are their incomes
7. What are resources of workers?
Resources of workers are their time and talent, knowledge, working experience, etc.
9. What are resources of firms?
Resources of firms are human resources, financial resources, production capacity,
technology, management ability, reputation (trade mark), brands, and so on.
12. Who makes decisions on the allocation of resources in the planned economy?
The Government fixes all production, distribution and consumption quotas
beforehand
15. What do consumers make trade-offs normally based on?
Consumers make trade-offs normally based on their incomes and their preferences.
16. What is the major role of prices?
All of the trade-offs made by consumers, workers and firms are based on the prices.
17. How are prices set in the planned economy?
In the planned economy, prices are set by the government.
18. How are prices set in the market economy?
In the market economy, prices are determined by the interactions of consumers,
workers and firms.

UNIT 4 : MACROECONOMICS
I/Short question
1.What is the goal of macroeconomics?
The goal of macroeconomics is to look at overall economic trends such as
employment levels, economic growth, balance of payment , inflation and so on.
2.What do macroeconomics factors include?
Macroeconomics factors include : inflation, economic growth, unemployment,
international business and so on.
3.What are 2 major macroeconomics policies? What are the objective
of these policies?
Two major macroeconomics policies are monetary policy and fiscal policy . The
objectives are to promote economic growth and to keep inflation under control .
4.What are the main tools of Monetary policy?
The main tools of Monetary policy are reserve requirement, discount rate and
open market operation .
5.What are the main tools of fiscal policy ?
The main tools of fiscal policy are government spending and taxation
6.Why is it said that microeconomics and macroeconomics are
interdependent and complement one another?
Macroeconomics and microeconomics are interdependent and complement one
another because they are many overlapping issues between two fields
II/Long Question
1.What are 2 branches of economics? What do they study ?
Economics can be classified into 2 Kinh tế học có thể được chi thành 2
branches of microeconomics and nhánh là kinh học vi mô và kinh tế
 macroeconomics .
Microeconomics is the branch of
economics that is the study of
individuals and business decisions.
Macroeconomics is the branch of
economics that is concerned with
overall economic trends such as
employment levels, economic growth,
balance of payments , inflation and so
on
học vĩ mô.
Kinh tế học vi mô là nhánh của kinh
tế học nghiên cứu về cá nhân và các
quyết định kinh tế.
Kinh tế học vĩ mô là nhánh của kinh
tế học liên quan đến có xu hướng
kinh tế như mức độ việc làm, phát
triển kinh tế, cán cân thanh toán, tỷ lệ
lạm phát …

2.What are differences between microeconomics and macroeconomics ?

- Microeconomics is the study of
individuals and business decisions.
While macroeconomics looks at
higher up country and government
decisions .
- Some issues in microeconomics are
price, demand and supply . Some
issues in macroeconomics are
inflation , economic growth , GDP
….
- Microeconomics uses bottom-up
approach but macroeconomics uses
top-down approach study.
- kinh tế học vi mô nghiên cứu về cá
nhân và các quyết định kinh tế. trong
khi đó, kte học vĩ mô xem xét các
quyết định của quốc gia và chính phủ
cấp cao hơn.
- Một số vấn đề trong kte học vi mô
là giá, cầu và cung. Một số vấn đề của
kte học vĩ mô là lạm phát, tăng trưởng
kinh tế, tổng sản phẩm quốc nội
- Kinh tế học vi mô sử dụng phương
phát tiếp cận từ dưới lên nhưng kinh
tế học vi mô sử dụng phương pháp
tiếp cận từ trên xuống.

III/Translate
1.Mục tiêu quan trọng nhất của CSTT là kiểm soát lạm phát và bình ổn giá .
The most important goal of monetary policy is to keep inflation under control
(to control inflation) and to stabilize prices.
2.Thị trường tài chính đóng vai trò như là trung gian tài chính giữa người đi vay
là người cho vay , giúp người đi vay huy động nguồn vốn nhàn rỗi cho sản xuất
và đầu tư .
The financial markets serve as the financial intermediaries between borrowers
and lenders and help borrowers to raise/mobilize idle funds for production and
investment.
(tiền nhàn rỗi)
1. What are two major macroeconomic policies?
They are monetary policy and fiscal policy
2. Who supervises monetary policy?
The Central Bank of each country supervises monetary policy.
3. What does monetary policy control?
It controls the money supply (lượng cung tiền) of a nation.
4. Who supervises fiscal policy?
The Ministry of Finance supervises fiscal policy.
5. What does fiscal policy control?
It controls the government’s revenue and spending
6. What are the main objectives of macroeconomic policies?
The main objectives of macroeconomic policies are: to promote economic growth, to
control inflation (MP) and to reduce unemployment rates.(FP)
7. What is the definition of macroeconomics?
- Macroeconomics is the branch of economics that studies overall economic trends
within one economy and interactions among different economies in the world.
8. What do economic trends include?
Economic trends include employment levels, economic growth, balance of payments,
inflation and so on.

UNIT 5 : DEMAND AND SUPPLY

I/Short question
1.What is the demand?
Demand refers to all possible quantities of goods and services that buyer can
able and willing to buy at all possible prices.
2.What are shift factor of demand?
Shift factors of demand are society’s income , prices of other goods ,
expectations tastes and
3.What is quantity demanded?
Quantity demanded is the specific amount of goods and services that buyer are
willing and able to buy at a certain price.
4.What is the supply?
Supply refers to all possible quantities of goods and services that seller can able
and willing to sell at all possible prices.
5.What are shift factor of supply?
Shift factors of supply are changes in prices of inputs , technology , taxes and
supplier expectations.
6.What is the quantity supplied ?
Quantity supplied is the specific amount of goods and services that seller are
willing and able to sell at a certain price .
7.When is a market in equilibrium?
A market is in equilibrium when quantity demanded is equal to quantity
supplied at a certain price.
II/Long question
1.What is the concept of shift factors ? Give some ex and analyse one ex
Shift factors are things that cause Những yếu tố ngoài giá là những thứ
shift demand curve or supply curve. gây ra sự dịch chuyển đường cầu
hoặc đường cung.
Some examples of shift factors are Một số ví dụ của các yếu tố ngoài giá
tastes, expectation, technology , là thi hiếu, sự mong đợi, công nghệ,
taxes, prices of inputs, so on. thuế và giá của các yếu tố đầu
An increase in the cost of producing vào ,v.v
goods would result in a decrease in Chi phi sản xuất hàng hóa tăng lên sẽ
supply . We would model it by dẫn đến giảm cung.
shifting the supply curve to the left . Chúng ta mô tả nó bằng cách dịch
chuyển đường cung sang trái.

2.How do prices influence its quantity demanded and its quantity supplied ?
When other things are constant , if Khi các thứ khác không đổi, nếu giá
price of goods increases , the quantity của hàng hóa tăng lên, thì lượng cầu
demanded will descrease and vice sẽ giảm và ngược lại.
versa . Khi các thứ khác không đổi, nếu giá
When other things are constant , if của hàng hóa tăng lên thì lượng cầu
price of goods increases, the quantity sẽ tăng và ngược lại.
 supplied will increase and vice versa . Sự thay đổi của giá hàng hóa gây ra
sự di chuyển dọc theo đường cầu
A change in price of goods causes the hoặc đường cung .
movements along the demand curve
or supply curve.
13. What is demand curve?
Demand curve is a graphic representation of the relationship between product price
and the quantity of the product demanded.
14. What is supply curve?
Supply curve is a graphic representation of the relationship between product price
and the quantity of the product supplied.
16. What factors cause the whole demand curve shift to the right or the left?
Shift factors cause the whole demand curve shift to the right or the left.
18. What does the law of demand describe?
When other things are constant, if price of goods increases, the quantity demanded
will decrease and vice versa.
19. What does the law of supply describe?
When other things are constant, if price of goods increases, the quantity supplied will
increase and vice versa.
21. If the national income increases, what will happen to demand of a good?
If national income increases the aggregate demand of a good will increase.
Or
An increase in national incomes will cause the whole demand curve shift to the right.
22. If the national income decreases, what will happen to demand of a good?
If national income decreases the aggregate demand of a good will decrease.
Or
A decrease in national incomes will cause a shift of the whole demand curve to the
left.
25. How does high technology influence supply of a good or service?
High technology can help companies to produce more goods and services, so the
aggregate supply will increase.
Or
This is illustrated in a graph as the shift of the whole supply curve to the right
UNIT 6: PUBLIC FINANCE
I/Short question
1.What is public finance concerned with?
Public finance is concerned with how government raises and spends their
money .
2.Where do tax revenue come from?
Tax revenues come from 3 major sources : income tax, payroll taxes and
corporate income taxes
3.How are trust fund used ?
Trust fund are used to pay for specific programs such as Social security and
Medicare.
4.By what way does the Treasury borrow money ?
The Treasury borrows money by selling bonds and other types of securities .
/ ˈTreʒəri / / sɪˈkjʊərəti /
5.Who does the government owe money to ?
The government can be owe money to its citizens, foreigners, other
governments or international financial institutions / ˈFɒrənə (r)
/
6.What is debt held by public ?
Debt held by the public is the total amount the government borrows all of its
creditors in the general public.
7.Debt held by the federal accounts is the amount of money that the Treasury
has borrowed from surplus of trust fund
II/Long question
1.What are the main sources of government revenue? How can government
raise money
The first source of government Nguồn đầu tiên của doanh thu chính
revenue is from taxation. The phủ đến từ thuế. Chính phủ có thể thu
government can collect money from tiền từ nhiều loại thuế khác nhau vd
 different types of tax such as income như thuế thu nhập, thuế hải quan,
taxes, customs duties, excise taxes thuế TTĐB v.v
and so on.
The second source is borrowing Nguồn thứ 2 là mượn tiền . Kho bạc
money. The Treasury borrows money mượn tiền bằng cách cách bán trái
by selling bonds and other types of phiếu và các loại chứng khoán khác.
securities
2.What are 2 types of funds from taxation in Americian ? How are they use?
Two types of funds are trust funds 2 loại quỹ đó là quỹ tín thác và quỹ
and federal funds: liên bang :
Trust funds are generated from Quỹ tín thác được tạo ra từ thuế trên
payroll taxes. They are used for bảng lương. Chúng được sư dụng cho
specific programs such as Social các chương trình cụ thể ví dụ như an
security and Medicare sinh xã hội và y tế
Federal funds are generated from Quỹ liên bang được tạo ra từ một số
some different types/kinds of taxes loại thé khác nhau như thuế thu nhập,
such as income taxes, customs duties thuế hải quan, thuế TTĐB …
, excise taxes v.v
The president can decide to spend Chính phủ có thể quyết định chi tiêu
them on just anything when conduct chúng bất cứ lúc nào khi tiến hành
the annual appropriation process phân bổ ngân sách hằng năm

3.What are 2 kinds of debt? How are they generated ?

They are debt held by public and debt
held by federal accounts
Debt held by public is the total
amount the government borrows
from all of its creditor in the general
public .
Debt held by federal accounts is the
amount of money that the Treasury
has borrowed from surplus of trust
funds
Đó là nợ do công chúng nắm giữ và
nợ do tk liên bang nắm giữ
Nợ do công chúng là tổng số tiền
chính phủ đã vay từ tất cả các chủ nợ
của mình trong công chúng
Nợ do tk liên bang năm giữ là tổng số
tiền kho bạc đã mượn từ thặng dư của
quỹ tín thác

III/Complete the sentences

1.Public finance/be/concerned/how/government/ raise/ and spend/money
Public finance is concerned with how government raises and spends money
2.Trust funds/ be/use/pay/specific program/social security/medicare
Trust funds can be used to pay for specific programs such as social security àn
Medicare
3.the Treasury/borrow/money/sell/ bond/ other/ type/securities
The Treasury borrows money by selling bonds and other types of securities
1. Where do the government revenues come from?
Or: What are sources of the government revenues?
- The government revenues mostly come from taxation.
2. What are 2 types of funds generated from taxation?
They are trust funds and federal funds.
3. What are trust funds?
Trust funds are the government revenues generated from payroll taxes including
social (national) insurance and health insurance.
4. What are trust funds used for?
Trust funds are used for social security and medicare.
5. What are federal funds?
Federal funds are the government revenues generated from income taxes, customs
duty, excise tax and so on.
6. What are federal funds used for?
Federal funds are used for building infrastructure, paying salaries for state
employees, running the government body.
Or:
Federal funds are used for the government projects and programs.
7. How can the government borrow money?
The government borrows more money by issuing and selling bonds or other types of
government securities.
8. What are 2 ways for the treasury to sell government securities?
The treasury can sell government securities directly through its website or
indirectly through banks or brokers.
9. Who does the government borrow money from?
The government borrows money from itself and from the public.
10. What is the money that the government borrows from itself called?
It is called debts held by federal accounts.
11. What is the money that the government borrows from the public called?
It is called debts held by the public.

UNIT 7 : FISCAL POLICY

I/Short question
1.What is fiscal policy concerned with?
Fiscal policy is concerned with taxation and public spending
2.What is deficit spending?
Deficit spending is spending funds obtained by borrowing or printing instead of
taxation.
3.When is fiscal policy expansionary?
Fiscal policy is expansionary when taxation is reduced or public spending is
increased
4.When is fiscal policy contractionary?
Fiscal policy is contractionary when taxation is increased or public spending is
decreased
5.When is there a deficit?
When the government spends more than it receives from taxation
I/Long Question
1.Under what circumstances can fiscal policy be expansionary?
A fiscal policy is expansionary when CSTK là mở rộng khi chi tiêu chính
government spending is increased or phủ tăng và thuế giảm.
taxation is reduced.
A expansionary fiscal policy should CSTK mở rộng nên được sử dụng khi
be used when unemployment is high thất nghiệp cao và nên kinh tế tăng
or the economy is slowing down. trưởng chậm.
2.Under what circumstances can fiscal policy be contractionary?
A fiscal policy is contractionary CSTK là thắt chặt khi chi tiêu chính
when government spending is phủ giảm và thuế tăng.
reduced or taxation is increased.
A contractionary fiscal policy should CSTK thắt chặt nên được sử dụng khi
be used when inflation is high. lạm phát cao.

3.What is deficit spending? Is it useful or harmful for the economy? Why?

Deficit spending is spending funds
obtained by borrowing or printing
instead of taxation.
It’s useful or harmful for the
economy.
+ It can be useful for the economy
when unemployment is high , The
government can undertake projects
that use idle workers.
+ It is harmful for the economy when
unemployment is low, a deficit may
result is rising prices or inflation.
Bội chi là việc các quỹ chi tiêu đạt
được bằng cách vay mượn hoặc in
tiền thay vì thuế.
Nó vừa có lợi vừa có hại cho nền kinh
tế.
+ Nó là có lợi cho nên kinh tế khi tỷ
lệ thất nghiệp cao. Chỉnh phủ có thể
thực hiện các dự án sử dụng lao đông
nhàn rồi.
+ Nó là có hại cho nền kinh tế khi tỷ
lệ thất nghiệp thất, thâm hụt có thể
dẫn đến kết quả là tăng giá hoặc lạm
phát

III/Dịch việt anh

1.Người môi giới được coi là chuyên gia tài chính, người đóng vai trò trung
gian giữa người bán và nhà đầu tư.
Brokers are considered to be financial experts who serve/act as intermediaries
between sellers/dealers and investors
2.Ngân hàng trung ương điều chỉnh tỷ giá hối đoái và kiểm soát lượng cung tiền
trên thị trường.
The central bank regulates exchange rates and controls the money supply in
market
1. What is fiscal policy?
Fiscal policy is a government policy related to taxation and public spending.
2. What is the main objective of fiscal policy?
The main objective of fiscal policy is to maintain economic growth, high employment
and low inflation.
4. What is contractionary fiscal policy?
Fiscal policy is contractionary when taxation is increased or public spending is
reduced.
5. What is deficit?
Deficit is the total amount by which money spent is more than money received.
6. What is deficit spending?
Deficit spending is a situation in which a company or especially a government spends
more money than it collects for a given period of time.
Or
What is government’s deficit spending?
Government’s deficit spending means spending funds obtained by borrowing or
printing instead of taxation.
10. What is inflation rate?

Inflation rate is the rate at which prices increase overtime causing the value of
money to fall.
16. When is deficit spending harmful for the economy?
Deficit spending is harmful for the economy when unemployment is low or inflation
is high.
17. Under what circumstances can fiscal policy be expansionary?
Fiscal policy can be expansionary when the economy is not growing fast enough or
unemployment is too high.
18. Under what circumstances can fiscal policy be contractionary?
Fiscal policy can be contractionary when the economy is growing too fast or inflation
is high.
19. What factors should be considered in making decisions on the fiscal policy?
They are the level of economic growth or unemployment likely in the future, political
considerations, fiscal policies of other countries and the requirements of the IMF.
24. What are the purposes of expansionary fiscal policy?
It is used for creating jobs and developing the economy.
25. What are the purposes of contractionary fiscal policy?
It is used for slowing down the economy and reducing inflation

UNIT 8: TAXATION
I/Short question
1.What is the tax evasion?
Tax evasion is making false declarations to the tax authorities
/ ɪˈveɪʒn / / ˌDekləˈreɪʃn / / ɔːˈθɒrəti /

2. What is the tax heavens? / ˈHevn /

Tax havens is countries with low tax rate (thuế suất)
3. What does criminal organizations tend to do to disguise / dɪsˈɡaɪz / the origin
/ ˈƆːrɪdʒɪn / of money?
Criminal organizations / ˌƆːɡənaɪˈzeɪʃn / tend to pass money through a series of
companies in very complicated transactions . / trænˈzækʃn /
4.What is individual income tax?
Individual income tax is the tax imposed on person income.
5. What is corporate tax?
Corporate tax is the tax imposed on corporate income
6. What is payroll tax?
Payroll tax is the tax imposed on wages or salaries of employees
7. What is customs duty?
Customs duty is the tax imposed on imports.
8. What is capital gain tax?
Capital gain tax is the tax imposed on profits made by selling assets
9. What is excise tax?
Excise tax is the tax imposed on some special goods or services like beer,
alcohols, so on…
I/Long question
1.How do people evade tax?
People evade tax in some ways. Self-
employed people have undeclared
their incomes. Many people have
undeclared their part-time jobs.
Criminal organizations tend to pass
money a series of companies in
complicated transactions to disguise
its origin from tax inspectors.
2.How do people avoid tax?
People avoid paying taxes in some
ways:
+ Employees receive perks such as:
cars, health insurance, subsidized
lunches, life insurance policies ,
pension plans, others investment can
help people postpone the payment of
tax.
+Multinational companies set up their
head office in countries with low tax
rates
3.What are the main functions of taxation?
The main functions of taxation are to
rise revenue to finance government
expenditure , to dissuade people from
smoking or drinking, to redistribute
wealth among people society.
1. What is the primary function of taxation?
The primary function of taxation is to raise revenue to finance government
expenditure.
2. What is the function of indirect excise duties?
Mọi người trốn thuế bằng nhiều cách.
Người làm chủ k khai báo thu nhập
của họ. Nhiều người không khai báo
công việc bán thời gian của họ .
Các tổ chức tội phạm có xu hương
chuyển tiền qua 1 hệ thống các công
ty bằng các giao dịch phức tạp để che
giấu nguồn gốc của chúng khỏi các
thanh tra thuê.
Mn tránh thuế bằng 1 số cách:
+ Người lao động nhận được các đặc
quyền như: xe ô tô, BHYT, trợ cấp ăn
trưa, Hợp đồng Bh nhân thọ, chính
sách hưu trí, các khoản đầu tư khác
có thể giúp mợi người hoãn lại việc
nộp thuế
+ Các công ty đã quốc gia đặt trụ sở
chính ở các nước có mức thuế thấp.
Các chức năng chính của thuế là tăng
doanh thu để tài trợ cho chi tiêu chính
phủ, để ngăn cản mọi người hút thuốc
hoặc uống rượu, để phân phổi lại của
cải trong xã hội.
The function of indirect excise duties is to dissuade people from consuming
unnecessary goods and services.
3. What is the function of income taxes?
Income tax is one of the ways, in which government can redistribute wealth.
7. How do individuals evade tax?
Self- employed people and people with part-time jobs don’t declare their incomes to
the tax offices.
8. How can highly-paid employees reduce their income tax liability?
To reduce income tax liability, highly-paid employees receive lots of perks instead of
taxable money such as company cars, free health insurance and subsidized lunches
10. What is one of the ways for companies to avoid tax on profits?
Companies can bring forward capital expenditure on new factories, machines and so
on so that at the end of the year all the profits have been used up.
13. What is a progressive tax?
A progressive tax is the tax imposed at a higher rate on higher incomes

UNIT 10: INSURANCE

I/Short question
1.What does the insured receive when a loss occurs?
The insured receives a promise from the insurance system , to be compensated
when a loss occurs.
2.What is the definition of insurance?
Insurance is a financial arrangement that redistributes the cost of unexpected
losses.
3.What does “compensation” mean?
Compensation means the amount of money that the insurer pays for the insured
when a loss actually occurs.
4.What is an insurance policy?
An insurance policy is a financial agreement signed between the insurance
company and the insured.
5.What does “ Insurance premium” mean?
Insurance premium is the regular payments that the insured pays for the
insurance company.
1,What is the operating principle of insurance?
-An insurance system accomplishes the redistribution of the costs of losses by
collecting a premium payment from every participant in the system. In change
for the payment of the premium , the insured recives a promise from the
insurance system to be compensated when a loss occurs.
2,What are the roles of insurance?
Insurance has some important roles:
-Firstly, losses can be predicted in advance.
-Secondly, insurance allows the cost of losses to be financced and redistributed
in advance.
-Finally, the insured can be compensated if the loss actually occurs.
UNIT 11: MONEY AND ITS FUNCTION
1.What is the concept of money?
Money is a commodity accepted by general consent as a medium of economic
exchange.
/ kəˈmɒdəti / / kənˈsent / / ˈMiːdiəm /

2.What are the function of money?

4 function of money are medium of exchange , measure of value, store of
value, and standard of deferred payments. / ˈMeʒər /

3.What is a medium of exchange?

A medium of exchange is anything that is widely accepted in payment for goods
and services and in settlement of debts.
/ ˈSetlmənt /

4.What are 2 types of money?

They are commodity money and token money.
5.Give some for example of token money?
Some examples of token money are coins, banknotes, checks and so on…
6.How is money used as a medium of exchange, a unit of account/ a store of
value/ a standard of deferred payment?
As a medium of exchange , money is a medium through which people exchange
goods and services.
As a unit of account , money is used to measure value of goods and services in
units of account such as dollar, yen, euro and so on.
As the store of value, money is used to make purchase in the future.
As a standard of deferred payments, money is used to settle debts in the future.
/ ˈSetl /

1,What are some differences between commodity money and token money?

-The value of commodity money is equal to the value of the material

contained in it. Examples of commodity money are gold, silver, copper, so
on.

-The purchasing power of token money greatly exceeds its material

value,Examples of token money are coin, banknotes, checks, so on.

2,Name 4 functions of money.Analyze one function?

-Money has 4 functions:money as a medium of exchange,a measure of

value, a store of value and a standard of deferrred payments. As a medium
of exchange, money is a medium though which people exchange for goods
and services.

11. What is a measure of value?

Measure of value or unit of account is the unit in which prices are quoted and
accounts are kept.
Thước đo giá trị hoặc đơn vị tài khoản là đơn vị mà giá được niêm yết và tài khoản
được lưu giữ.
13. What is a store of value?
As a store of value, money is used to make purchases in the future or money is saved
for future use.
16. What is a standard of deferred payment? Or unit of account over time?
As a standard of deferred payment, money is used to make payments for debts in
the future.
18. If you buy a good on credit, how do you make payments for that good?
Firstly you have to pay a deposit, then you have to make regular repayments until
the debts are used up.
10. What is barter economy?
Barter economy is the economy in which goods and services are traded directly
without the use of money.
6. What is token money?
Token money is a mean of payment . EX ….
Comodity money is a useful goods that serve as a medium of ẽchange. The value of money is
EQual to about material contained in it

UNIT 12: MONETARY POLICY

1.What are 3 quantitative tools of money policy?
They are reserve requirement. discount rate, open market operations.
2.What is reserve requirement?
Reserve requirement refers to the percentage the Fed sets as minimum account
of reserves as bank must have. (FED: Federal Reserve System)
3.What is the discount rate?
It’s the rate of interest the FED charges other banks for loan.
4.When is monetary policy expansionary?
The monetary policy is expansionary when the money supply is increased.
5.When is monetary policy contractionary/restrictive?
The monetary policy is restrictive when the money supply is reduced.
6.What does “open market operations” mean?
Open market operations refer to the buying and selling of government securities by
the Central Bank on the open market.
1. What is the monetary policy?
2. What are the objectives (or goals) of monetary policy?
The objectives of monetary policy are to promote economic growth and to keep
inflation under control.
7. What happens if the Central bank increases the reserve requirement?
If the Central increases the reserve requirement, it contracts the money supply;
banks have to keep more in reserve so they have less money to lend out.
8. What happens if the Central bank reduces the reserve requirement?
If the Central bank reduces the reserve requirement, it expands the money supply;
banks have to keep less in reserve so they have more money to lend out.
10. What happens if the central bank increases the discount rate?
If the central bank increases the discount rate, it contracts the money supply.
11. What happens if the central bank reduces the discount rate?
If the central bank reduces the discount rate, it expands the money supply.
12. What will happen if the Central banks buy government securities?
If the Central banks buy government securities, the money supply will increase.
13. What will happen if the Central banks sell government securities?
If the Central banks sell government securities, the money supply will decrease.

18. Under what circumstance should monetary policy be expansionary?

Monetary policy should be expansionary when unemployment is high or economic
growth is low
19. Under what circumstance should monetary policy be restrictive?
Monetary policy should be restrictive when inflation is too high.
20. What is expansionary monetary policy?
Monetary policy is expansionary when the Central bank reduces reserve
requirements or discount rates or buys more government securities.
21. What is restrictive monetary policy?
Monetary policy is restrictive when the Central bank increases reserve requirements
or discount rates or sells more government securities.
22. Who are depositors of a bank?
A bank's depositors are the people who have accounts with that bank.
23. What are objectives of expansionary monetary policy?
The objectives of expansionary monetary policy are to promote economic growth
and create more jobs.
23. What is the objective of restrictive monetary policy?
The objectives of restrictive monetary policy are to reduce inflation.
24. What can banks do if they are short of reserves?
If they are short of reserves, banks can borrow money from their bank (the Central
bank).
2. Who supervises monetary policy?
The Central Bank of each country supervises monetary policy.
4. Who supervises fiscal policy?
The Ministry of Finance supervises fiscal policy.

UNIT 14: THE FOREIGN EXCHANGE MARKET

I/SHORT QUESTION
1.What is the foreign exchange market?
The foreign exchange market is the market, in which national currencies are
exchanged.
2.What are 2 types of transactions in the foreign exchange market?
They are spot transaction and forward transactions
3.What is the spot transaction?
A spot transaction is an actual exchange of currencies two business day later.
4.What is the forward transaction?
A forward transaction involves a delivery date further into the future, possible
as far as a year or more / dɪˈlɪvəri /

1.How does the foreign exchange market operate? What are the main
features of the foreign exchange market?
The Foreign Exchange Market is an Thị trường ngoại hối là 1 thị trường
over-the - counter market. không tập trung.
It’s not an organized market with Nó kp là một thị trường được tổ chức
fixed hours and a physical meeting với những giờ cố định và những địa
place. điểm gặp gỡ cụ thể.
The trading is made through-out the Giao dịch được thực hiện suốt cả
 day. The main communication ngày . Phương tiện liên lạc chính là
instruments are telephones and điện thoại và máy tính
computers

2.What are the different groups of participants in the foreign exchange

market?
They are:
- Market markers (Central
banks)
- Customers ( Multinational
companies, import , export
companies, individuals)
- Dealer (banks)
- brokers
4. What is an OTC (over-the-counter) market? Or What are features of an
OTC market?
An OTC market is the market in which transactions are made throughout the day and
via communication instruments such as telephone or computer link.
Or:
An OTC market is the market which hasn’t got fixed hours or a physical meeting
place.
6. What is exchange rate?
Exchange rate is the rate, at which the currency of one country can be exchanged for
that of another country
UNIT 15
1. Based on types of financial instruments, how are securities markets classified?
They are classified into equity markets and debt markets
2. What are equity markets?
Equity markets are the markets in which equity instruments (shares) are traded
4. What are debt markets?
Debt markets are the markets in which debt instruments (công cụ nợ) are traded