- •Текст №1. Market and Command Economies
- •Перевод. Рынок и административно-командная экономика
- •Пересказ.
- •Перевод пересказа.
- •Текст №2. Demand and Supply
- •Перевод. Спрос и предложение.
- •Пересказ.
- •Текст №3. Theory of Demand
- •Перевод. Теория требования
- •Пересказ.
- •Текст №4. Theory of Supply
- •Перевод. Теория поставки
- •Пересказ.
- •Перевод пересказа.
- •Текст №5. Factors of Production: Capital and Labour.
- •Перевод. Факторы производства: капитал и труд.
- •Перевод пересказа.
- •Текст №6 Factors of Production: Natural Resources and Land
- •Перевод. Факторы производства: природные ресурсы и земля
- •Пересказ.
- •Перевод пересказа.
- •Текст №7. Circular Flow of Payments and National Income.
- •Перевод.
- •Пересказ.
- •Текст №8. Taxes and Public Spending.
- •Перевод.
- •Перевод пересказа.
- •Текст №9. Money and Its Functions
- •Перевод.
- •Пересказ.
- •Перевод пересказа.
- •Текст №10.
- •Introduction to Banking and Financial Markets
- •Введение в банковские и финансовые рынки
- •Пересказ.
- •Перевод пересказа.
- •Текст №11. Monetary System and Monetary Policies
- •Перевод.
- •Пересказ.
- •Перевод пересказа.
- •Текст№14. Assets and Liabilities.
- •Перевод.
- •Пересказ.
- •Перевод пересказа.
- •Academy
Пересказ.
In every economy there are lots of households to supply labour and capital to firms that use them to produce goods and services
The GDP is the total money value of all final goods produced in the domestic economy over a one-period
GDP plus property income from abroad the GNP
GNP is an important measure of a country's economic well-being
Government also step in the circular flow of income and payments.
Перевод пересказа.
В каждой экономике есть много домашних хозяйств, чтобы поставлять труд и капитал к фирмам, которые используют их, чтобы произвести товары и услуги
Валовой внутренний продукт - полная ценность денег всех заключительных товаров, произведенных во внутренней экономике по одному периоду
Валовой внутренний продукт плюс доход собственности из-за границы ВНП
ВНП - важная мера экономического благосостояния страны
Правительство также ступает в круглый поток дохода и платежей.
Текст №8. Taxes and Public Spending.
In most economies government revenues Come mainly from direct taxes on personal incomes and company profits as well as indirect taxes levied on purchase of goods and services such as value added tax (VAT) and sales tax. Since state provision of retirement pensions is included in government expenditure, pension contributions to state-ran social security funds are included in revenue, too. Some small component of government spending is financed through government borrowing.
Government spending comprises spending on goods and services and transfer payments.
Governments mostly pay for public goods, that is, those goods that, even if they are consumed by one person, can still be consumed by other people. Clean air, national defence, health service are examples of public goods. Governments also provide such services as police, fire-fighting and the administration of justice.
A transfer is a payment, usually by the government, for which no corresponding service is provided in return2. Examples are social security, retirement pensions, unemployment benefits and, in some countries, food stamps3.
In most countries there are campaigns for cutting government spending. The reason for it is that high levels of government spending are believed to exhaust resources that can be used productively in the private sector. Lower incentives to work are also believed to result from social security payments and unemployment benefits.
Whereas spending on goods and services directly exhausts resources that can be used elsewhere, transfer payments do not reduce society's resources. They transfer purchasing power from one group of consumers, those paying taxes, to another group of consumers, those receiving transfer payments and subsidies.
Another reason for reducing government spending is to make room for4 tax cuts.
Government intervention manifests itself in tax policy which is different in different countries. In the United Kingdom the government takes nearly 40 percent of national income in taxes. Some governments take a larger share, others a smaller share.
The most widely used progressive tax structure is the one in which the average tax rate rises with a person's income level. As a result of progressive tax and transfer system most is taken from the rich5 and most is given to the poor5.
Rising tax rates initially increase tax revenue but eventually result in such large falls in the equilibrium quantity of the taxed commodity or activity that revenue starts to fall again. High tax rates are said to reduce the incentive to work. If half of all we earn goes to the government, we may prefer to work fewer hours a week and spend more time in the garden or watching television.
Cuts in tax rates will usually reduce the deadweight tax burden6 and reduce the amount of taxes raised but might increase eventual revenue.
If governments wish to reduce the deadweight tax burden and balance spending and revenue, they are supposed to reduce government spending in order to cut taxes.