1. High unemployment rate in Europe is assumed to result from high un employment benefits.
2. The private sector is normally considered to use resources more productively than the government.
3. Social security payments and unemployment benefits are known as transfer payments.
4. It is known that taxes raised at the national level, such as income tax or VAT (value added tax), are usually supplemented (дополнять) by local taxes.
5. More people have been found to choose to stay unemployed in countries with very high tax rates.
6. Chemical and steel workers know their earnings to increase more than those in textile and trade sectors.
7. The UK government is known to take nearly 40 percent of national income in taxes.
8. Macroeconomics is concerned with demand for goods by households or the total spending on machinery and buildings by firms.
1. Most of public expenditure is financed through taxation and government borrowing.
2. In a situation of full employment, the supply of most goods and services will be inelastic.
3. Most often we look at the GNP per capita, or the average income in a country.
4. In 1986 there was a most sharp fall in world oil prices.
5. In most European countries and the USA, work experience (трудовой стаж) is required to receive unemployment benefits. For this reason, more people have an incentive to go into employment at an earlier age.
6. The International Monetary Fund (IMF) is considered to be one of the most influential multinational institutions stimulating international trade and maintaining balance-of-payments equilibrium.
7. The arts are a most important economic activity: their contribution to Britain's GDP was reported to be nearly £6,000 million in 1990.
8. As a result of the Industrial Revolution at the end of the 18th century, most workers became employed in large factories.
9. With some groups of population, payments from social security funds may be a most important contribution to household incomes.
