AJ2
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TEST ANGLIČTINA A2
Chapter 1
What is tax evasion ?
c) when I try to avoid paying taxes outside of the legal framework
What is exploitation of natural resources ?
a) when one country takes control over another country’s natural resources to raise its own profit and power
c) when a country rich in oil sells its oil fields to another country which politically enforces it
Which of the following can cause a shift of wool supply curve to the right ?
a) exeptionaly a great weather for growing wool
b) availability of a better technology for harvesting crop
c) finding a few new markets where people needs wool
Which of the following are the Maaastricht criteria ?
a) the country must join the ERM and stick to its rules
Who wrote the so called „Bible of economics“ ?
c) Nordhaus&Samuelson
Which of the following is correct about the Lerner index ?
a) it measures the monopoly power
b) it can range from 0 to 1
c) if it‘s 0, we’re in perfect competition
d]if it’s 1, we are facing an absolute monopoly
State subsidies for agriculture are about
b) reallocation of money from the tax payers to agriculture
GDP is ...
b) an economic indicator
d) the output produced within the borders of the respective country
During the Great Depresion that started in 1929, the US GDP fell by ....percent
b) 33
If the government legislates a minimum wage floor, it will probably most cause ....
b) a surplus of the number of hours worked offered by the labour force
c) rise in unemployment
When the government sets a rental ceiling it means that ....
b) the rent is set under the equilibrium price of housing
c) the market equilibrium price would be too high for people
A legislated rental ceiling will most probably cause
b) a shortage of flats
Which of the following taxes are indirect ?
b) consumption tax
c) value-added tax
Which of the following are function of money ?
a) accounting unit
c) medium of exchange
When did the Maaastricht Treaty establish Euro as the common European currency ?
b) 1992
Chapter 2
What is a Ltd. ?
b) a company that has a limited liability of its depths
d) an English equivavelt of Czech term „s.r.o.“
What is the rule that can help a SME avoid undercapitalisation ?
d) the sum of planned revenues and planed costs in the first year must not exeed the financial means that are at your disposal
What can make Euro too strong in relation to Czech crown ?
b) a decreasing GDP of the Eurozone whike Czech GDP is stable
c) some kind of volatility in the currency market
Which of the following legal forms of business are strictly privately held companies that never emit any stock ?
no answer
The export curve is ..... in a graph where export depents on domestic GDP
c) sloping downward
When there is a trade deficit, it means that ......
d) import exeeds export
Ltd. is a popular legal form of business because ....
b) it protects personal assets of the owners
Joseph Schumpeter ....
b) called enterpreneurship a „creative destruction“
d) defined enterpreneurship similary to our Code of Comerce
EGAP ....
b) is a state owned institution
c) intends to make your entry to foreign markets easier
d) is an credit export agency
Peter Drucker ....
b) described „enterpreneurial uncertainity“
Who was the first one to explore enterpreneurship and when was it ?
c) Richard Cantlion, 18 th century
When Czech GDP goes up, Czech exporters ....
b) usualy have a bad times because of the strong domestic currency
c) may be forced to reduce their prices
Someone who wants to be self-employed in the Czech Republic must ....
b) arrange for a Trade licence
To set up a „s.r.o.“ (i.e. the equivalent of a Ltd.), the founders must ....
c) have at least 200 000 Czech Crowns
A company’s stakeholeder is someone who ...
a) lives near to the company’s factory
b) is emplyoed by the company
c) invests their money to buy its stocks