END-OF-TERM TEST ON EEB
Time allowed: 60 + 10 minutes
NO.4
PART I. GRAMMAR AND VOCABULARY (10 pts)
Choose the best letter A, B or C to complete each sentence.
1. Inflation’s ________on an economy are various and can be positive and negative.
a. affect
b. effects
c. advantages
d. drawbacks
2. The ______banks have enough liquidities to avoid any bank run.
a. Central
b. trade
c. marine
d. commercial
3. It is very easy for the cardholders to buy ________ without paying attention whether they will be
able to or not to pay the debt accumulated.
a. Excess b. excessive
c. excession
d. excessively
4. Demand _______ behavior of buyers at every price.
a. Shows
b. demonstrates
c. mentions
d. describes
5. If we _________ the finance market share, we could expand much more rapidly.
a. have
b. had
c. will have
d. are having
6. Free market economy is an economic system in _____ the market is supposed to be regulated by
the law of supply and demand.
a. which
b. that
c. where
d. how
7. Central planners’ decisions______ upon what they believe is the most socially beneficial for
society.
a. Based
b. base
c. are based
d. are basing
8. The government _______ spend more money than it has received through taxes and other
revenue.
a. had to
b. might
c. shall
d. may
9. A central bank exerts its influence mainly by ______ the amount of money supply.
a. cause
b. having caused
c. to cause
d. causing
10. The purpose of a progressive income tax is _______ the inequality of incomes that arises from
the operation of the market system.
a. Lessen
b. to lessen
c. be lessen
d. being lessened
PART II. COLUMN MATCHING (10 pts)
Match a word or a phrase with the right definition.
A
11.
The
governor
12.
International
trade
B
bank A. Someone who owns part of a company
13. Shareholder
14. ROI
15. Cash flow
16. Balance sheet
17. Net income
18. GDP
19. Lease
20. Unemployment rate
B. the balance of cash receipts minus cash payments over a given
period of time.
C. is a member of cabinet
D. total value of goods and services produced in a country.
E. production and consumption quotas are fixed beforehand
F. allows a nation to specialize in production of those goods for
which it is particularly suited.
G. is a performance measure used to evaluate the efficiency of an
investment or to compare the efficiency of a number of different
investment
H. money remaining after all expenses and taxes have been paid.
I. percentage of people without jobs.
K. Some goods and services are produced by the government and
some by private enterprise.
L. An agreement where the owner of something allows someone
else to use it for a special time for a sum of money
M. cash or something that is easily convertible into cash.
PART III. READING COMPREHENSION (20 pts)
Task 1. Read the passage and do the following tasks and decide if the following statements are
true (T) or False (F).
There are several different kinds of banks. National central banks control and supervise the financial
system in their country. In the European Union the national central banks of the euro zone are now
controlled and supervised by the European Central Bank in Frankfurt. Other types of bank specialize
in different services or in a particular region or a particular type of economic activity such as
agriculture or industry.
Commercial banks and savings banks receive and hold deposits in current accounts, savings
accounts and deposit accounts, make payments for their customers, lend money, and offer
investment advice, foreign exchange facilities, and so on. Many banks nowadays also offer online
banking services. Some banks only have branches in one region or country; large international banks
have branches in many countries. What they all have in common, however, is that they make a profit
from the difference between the interest rates they pay on deposits and the interest rates they charge
on loans, and of course from the commissions they charge for their services.
21. All banks offer the same services.
22. Central banks in the euro zone are supervised by the European Central Bank.
23. The European Central Bank is in Germany.
24. There are no banks that specialize in services to agriculture.
25. All banks nowadays offer online banking services.
Task 2. Fill in the gaps in the summary with the words taken from the table.
dramatically
signs
cardholder
purchases
account
monthly
credit card
balance
retailers
provides
company
gained
The use of credit cards has increased (26) _______over the last few years. Many
(27)_______companies are now in existence, and many major retail outlets now have credit card
facilities for use in their own stores. Credit card customers are given a credit limit on their (28)
_____ and they may buy goods and services up to this amount from any outlet displaying the credit
card (29)______.Each month the (30)________receives a statement from the credit card company
detailing all (31) _________during the month together with the total amount outstanding and the
minimum amount due for payment. Payment may be made by regular (32) _______direct debit.
Where the full (32) ________ is not settled, interest is charged, this (33) _______ the credit card
company also receives income from (34) _______who make use of its cards and who pay a
percentage of each sale to the credit card (35) ________.
Task 1: Rewrite the following sentences using the guided information
36. We are going to introduce a completely new process in 2 years.
A completely………………………………………………..
37. Mrs Falworth is away, so she is unable to give you an answer.
IF…………………………………………………..
38. Economics is social science. It analyzes the production, distribution and consumption of
goods and services.
ECONOMICS…………………………….
39. They will tell us about their special discount, and then we’ll deal with insurance.
AFTER THEY …………………………….
40. Meisser was a commander of the army. He is also a close friend of the President.
MEISSER WAS NOT ONLY …………………..