ENGLISH WRITTEN TEST

Time allowed: 60 minutes

Họ và tên: .....................................
Số thứ tự: ………….

I. CHOOSE THE BEST ANSWER

1. The government should ... more national budget to education and healthcare.
a. provide b. allocate c. distribute d. share
2. ... is a way to reduce the amount of tax you pay to a legal minimum.
a. tax avoidance b. tax shelter c. tax evasion d. tax heaven
3. The government made serious attempts to raise the ……. of living.
A. standard B. cost C. level D. mode
4. Inflation is a great …….to long-term investors because it erodes the value of
future dollars.
A. advantage B. favor C. threaten D. threat
5. Tax is … fee imposed on individuals or corporations by the government to
finance public programs.
A. optional B. compulsory C. innessential D. unnecessary
6, Monetary policy is the policy of using the tools of credit and foreign exchange
activities to … the currency.
A. stability B. stabilizing C. stabilize D. stable
7, The basic objectives of these two main macroeconomic policies are to …
economic growth and to keep inflation under control.
A. promote B. supervise C. change D. focus
8. When debts are denomiated in money, the real value of debts may change due
to inflation and …
a. crisis b. chaos c. devaluation d. deflation
9. By bringing forward capital expenditure, a company can ... year-end taxable
income and therefore .... its tax expense.
a. increase... increase b. increase... decrease
c. decrease...increase d. decrease... decrease
10. If a central bank uses the tools of monetary policy to reduce the demand for
goods and services, the likely result is _________ inflation and
_________unemployment in the short run.
a. lower; higher b. lower; lower
c. higher; higher d. higher; lower
II. READING
The International Monetary Fund (IMF) is an organization of 189 member
countries. It stabilizes the global economy in three ways. First, it monitors global
conditions and identifies risks. Second, it advises its members on how to improve
their economies. Third, it provides technical assistance and short-term loans to
prevent financial crises. The IMF's goal is to prevent these disasters by guiding
its members. These countries are willing to give up some of their sovereign
authority to achieve that aim

The IMF has the rare ability to look into and review the economies of all its
member countries. As a result, it has its finger on the pulse of the global economy
better than any other organization. The IMF produces a wealth of analytical
reports. It provides the World Economic Outlook, the Global Financial Stability
Report, and the Fiscal Monitor each year. It also delves into regional and country-
specific assessments. It uses this information to determine which countries need
to improve their policies. Hence, the IMF can identify which countries threaten
global stability. The member countries have agreed to listen to the IMF's
recommendations because they want to improve their economies and remove
these threats.

Since the Mexican peso crisis of 1994-95 and the Asian crisis of 1997-98, the
IMF has taken a more active role to help countries prevent financial crises. It
develops standards that its members should follow. For example, members agree
to provide adequate foreign exchange reserves in good times. That helps them
increase spending to boost their economies during recessions. The IMF reports
on member countries' observance of these standards. It also issues member
country reports that investors use to make well-informed decisions. That
improves the functioning of financial markets. The IMF also encourages
sustained growth and high living standards, which is the best way to reduce
members' vulnerability to crises.
Question 1: What does the passage mainly discuss?
A. IMF and its objectives and role
B. History of IMF
C. Organizing structure of IMF
D. Members of IMF

Question 2: The word "look into" in paragraph 2 can best be replaced by

A. find
B. supply
C. examine
D. obtain

Question 3: What can be inferred from paragraph 2?

A. IMF evaluates other organizations.
B. IMF surveys global conditions.
C. IMF identifies which countries can borrow money
D. IMF recommends how to overcome crisis

Question 4: The word "It" in paragraph 2 refers to

A. Global economy
B. Organization
C. Analytical report
D. IMF

Question 5: According to paragraph 3, which of the following is NOT a method

of the IMF to help countries prevent financial crises?
A. Developing standards for members
B. Issuing member country reports
C. Encouraging sustained growth and high living standards
D. Lending developing countries funds to overcome
III. MAKE COMPLETE SENTENCES
1. By/offer/ lower interest rates/ or/ easier/ approvals, the banks/ can/ encourage/
people/ borrow/ and/spend/ more/ money.

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2.Reserve/requirement/be/ the percentage/Fed/set/as/minimum/amount/reserves/
as the bank must have.

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3.fiscal deficit/ public debt ratio/ have/ expand/ sharp/ many countries/ because/
affect/ the crisis/ GDP/ and/tax revenues/ well/ cost/ the fiscal/ response/ the
crisis.
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4.deficit spend/-/ that/be/,/spend/ fund/obtain/by/ borrow/or/print/instead/ tax/-/
can/ be/ help/for/ economy.
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5.These/ factor/will/affect/amount/revenue/raise/ through/taxe/ amount/ money/
require/ government programs.
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IV: MATCHING

A B
1. production factors A. the total value of goods and services produced
in a country in a single year in constant prices
2. nominal gross domestic
product (GDP) B. The required percentage of reserves (deposits)
that banks and thrifts must hold in each or in
3. open market operation deposits at the central bank

4. reserve requirement
C. Trying to insure against unfavorable price
5. foreign trade deficit movements by way of futures contracts

6. trade surplus
D. inputs that are used in the production of goods
7. Hedging or services including land, labor, capital and
entrepreneurship.
8. inflation
E. the excess of national imports of goods and
services over its exports of goods and services.

1-... 2-..... 3-.... 4-.... 5-....

V. ANSWER 2 QUESTIONS
1.
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VI. TRANSLATION
1.Translate the following sentences into English.
- Reconciling financial demand with macroeconomic stability will require a more
comprehensive policy framework across all major policy instruments including
exchange rate policy, monetary policy, and fiscal policy.
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-The primary objective of fiscal policy is to reduce the size of output volatility
over the business cycle. This goal leads to the view that the government needs to
regulate the operation of the economy.

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-When properly applied, theories of economics can provide insight into how the
economy works and the long-term consequences of particular policies and
decisions.

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2.Translate the following sentences into Vietnamese.
- Để ngăn chặn tình trạng lạm phát xảy ra, chính phủ sẽ sử dụng kết hợp chính
sách tiền tệ thắt chặt nhằm đẩy lãi suất lên cao và giảm bớt chi tiêu của khu vực
tư nhân, và cụ thể là đầu tư và tiêu dùng.
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- Một báo cáo về thị trường lao động được bộ tài chính đưa ra đã chỉ rõ rằng Việt
Nam đang thiếu trầm trọng những lao động tay nghề cao và đội ngũ nhân viên
trong các lĩnh vực: tài chính, ngân hàng và du lịch.
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- Thuế giá trị gia tăng áp dụng đối với hàng hóa, dịch vụ trong nước hoặc nhập
khẩu được mua vào và bán ra để sản xuất, kinh doanh và tiêu thụ.
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