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Приготовление дезинфицирующих растворов различной концентрации Практические работы по географии для 6 класса Организация работы процедурного кабинета Изменения в неживой природе осенью Уборка процедурного кабинета Сольфеджио. Все правила по сольфеджио Балочные системы. Определение реакций опор и моментов защемления |
Fill in the following prepositions where necessary. to (x2) at of for in with without
to (x2) at of for in with without People often respond (1) ___ increased taxation by working harder, to reduce the fall in their after-tax incomes. Their increased work effort clearly represents a cost to these people, and this cost should be added to the observed reduction in real after-tax income to arrive (2) __ the total cost of the tax increase. This total cost would be reflected in a utility measure that took account (3) ___ the disutility of work. In considering the extent of inequality, real after-tax income can be misleading. If everybody received the same hourly wage, but some worked more hours than others, there would be inequality in terms of income but the equity argument (4) ___ taxing high earners more than lower earners would be weak. After all, anybody could choose to work the longer hours. However, if the same degree of earning inequality was due to differences (5) ____ wage rates, the equity argument for redistributive taxation would be considerably stronger. If utility was used instead of income as a basis for inequality measurement, the differences in work effort would be taken into account: the case of equal wage rates would show a smaller degree of utility inequality than the case (6) ___ differing wage rates. When taxes are applied (7) ____ consumption goods, relative prices will change and consumers will respond by changing their consumption patterns. This should result in a change in the weights used in the price index that converts nominal to real income. It is not possible to ensure that the weights change properly (8) ____ knowledge of consumer preferences as represented by utility function. It is then more convenient to use the utility function directly.
Exercise 7. Word formation. Complete these sentences using the base word given at the end of each sentence. You need to form an appropriate word. The first one (0) is given as an example. 0 Tax policies in advanced countries generally favor agricultural over industrial activities. (INDUSTRY) 1 In addition to the revenue function of taxation, taxes may ________ the product-mix generated within the private sector. (ALTERATION) 2 In Great Britain, for example, such commodities as automobiles, household appliances, liquor, and tobacco are made more expensive by taxation, whereas such items as milk, vegetables, meat, cider, and household help are made less expensive, in part through ________, or negative taxes.(SUBSIDE) 3 As a consequence, the British people use rather more of the latter group of commodities and rather less of the ____________(FORMERLY). 4 The tax-induced ___________ in the product-mix comes about through the effects of taxes on prices and quantities produced. (CHANGEABLE) 5 British manufacturers of electric dishwashers, for example, being confronted by a heavy tax on these goods, charge higher prices for them, and so the number these companies can ___________ sell is curtailed. (PROFIT) 6 The labor and capital services not used to produce dishwashers as a result of the curtailed output of them are devoted instead to the _________ of other commodities that are lightly taxed or not taxed at all. (PRODUCE) 7 From the point of view of buyers, this alteration of the product-mix benefits those who happen to like the lightly taxed commodities and injures those who _________ the heavily taxed goods. (PREFERENCE) 8 Whether the entire consuming public as a whole can be said to be better off or worse off as a result of the alteration of the product-mix depends on whether an optimum is defined in terms of consumer preferences as expressed in the market or as expressed through _________ processes. (POLITICS) Exercise 8. Match the words (1-4) with their definitions (A-D). 1. Exemptions A a raw material or primary agricultural product that can be bought and sold, such as copper or coffee
2. C ommodity B the action of freeing or state of being free from an obligation or liability imposed on others
3. Utility function C the action of spending funds
4. Expenditures D a mathematical function that ranks alternatives according to their utility to an individual
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