Download bài test của tiếng anh học phần 4 and more Essays (university) Business English in PDF only on Docsity! CÙNG BELL QUA MÔN TIẾNG ANH 1 END OF UNIT TEST 2 (70 MINUTES) SECTION 1: Vocabulary and Structure (30 marks, 1 mark/answer) 1. ________________ is referred to as government actions concerning taxation and public expenditure A. Monetary policy B. Economic policy C. Fiscal policy D. Tax policy 2. During a(n) ________________, the demand for goods and services will decline and the economy will begin to work below its potential. A. upturn B. boom C. downturn D. expansion 3. The fact that people start saving money and consuming less leads to a ________________ in demand, production, and employment. A. equilibrium B. surplus C. rise D. fall 4. The company increased its production of the new shoes after a recent advertising campaign made the ________________ for the product increase rapidly. A. trough B. demand C. deficit D. surplus 5. The difference between the funds a country receives and those it pays for all internal transactions is called ________________. A. balance of payments B. consumption decisions C. equilibrium D. gross domestic product 6. The total market value of all the goods and services produced in a country during a given period is called ________________. A. gross domestic product B. balance of payments C. consumptions D. demand decline 7. ________________ is the economic theory that supports governmental intervention in the economy, to counteract the business cycle. A. Keynesianism B. Monetarism C. Classical economic theory D. Friedman theory 8. The period during which radical innovations destroy established companies or industries is called ________________. A. creative destruction B. technological invention C. trough D. endogenous 9. If the economy's turning down, it may make sense for governments to have ________________, and to keep expenditure in the economy. A. budget surplus B. budget deficit C. budget equilibrium D. budget supply 10. The upward and downward movement of aggregate output produced in the economy is referred to as the ________________. CÙNG BELL QUA MÔN TIẾNG ANH 2 A. long-lasting recession B. negative growth C. business cycle D. monetary expansion 11. Groups of people with a stake in or an interest in or a claim on the firm are called ________________. A. stockholders B. shareholders C. bondholders D. stakeholders 12. Countries where taxes are low, where multinational companies often set up their head offices, are known as ________________. A. tax launderers B. tax harbors C. tax havens D. tax evasion 13. The model where companies have an obligation to maximize profits because shareholders expect the maximum return on their investments is called ________________. A. stockholder model B. stakeholder model C. caveat emptor D. classical theory 14. The community or outside society can be referred to as ________________ stakeholders. A. interval B. internal C. external D. extended 15. The contract requires managers ________________ to high standards of personal ethics. A. to eliminate B. to maximize C. to provide D. to conform 16. An economic system in which anyone can raise capital, form a business, and offer goods or services is called ________________. A. free society B. free expenditure C. free enterprise D. free corporate 17. It is clearly shown that their products are designed to ________________ profit rather than behave according to consumer expectations. A. provide B. maximize C. optimize D. localize 18. Selling your company's secrets to a rival is called industrial ________________. A. fraud B. espionage C. pollution D. trading 19. ________________ means a country's ability to produce particular goods more efficiently than some other countries. A. Absolute advantage B. Comparative advantage C. Relative advantage D. Competitive advantage 20. ________________ means restricting imports by way of trade barriers such as tariffs and quotas. A. Consumerism B. Strategic industry C. Protectionism D. Absolute advantage CÙNG BELL QUA MÔN TIẾNG ANH 5 conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. 3 Therefore, “to say that the corporate executive has a “social responsibility” in his capacity as businessman” is to say that “he is to act in some way that is not in the interest of his employers”. Because if an executive makes “social” expenditures he is spending someone else’s money ... Insofar as his actions in accord with his “social responsibility” reduce returns to stockholders, he is spending their money. Insofar as his actions raise the price to customers, he is spending the customers’ money. Insofar as his actions lower the wages of some employees, he is spending their money. 4 Furthermore, such actions are “undemocratic” as they involve corporations taking on responsibilities that should be the government’s: taxation and expenditure, and solving social problems. If the elected government is not taking certain actions, it is because the voters did not want it to do so. Any such action “harms the foundations of a free society” and reveals an unfortunate “suicidal impulse” in businessmen. 5 Friedman does not seem to consider the possibility that stockholders might prefer to receive lower dividends but live in a society with less pollution or less unemployment and fewer social problems. 6 An alternative view to the “stockholder model” exemplified by Friedman’s article is the stakeholder model. According to this approach, business managers have responsibilities to all the groups of people with a stake in or an interest in or a claim on the firm. These will include employees, suppliers, customers and the local community, as well as the stockholders. Proponents of the stakeholder approach argue that all these groups should be represented on a company’s board of directors. Based on the information in the article, say whether the following statements are True (T), False (F). 41. Free market theorists think that people do business to make money. 42. Friedman believes both people and corporations can have responsibilities. 43. Friedman describes social responsible actions of corporations as an undemocraticy. 44. Friedman argues that the social responsibility of business is to solve social problems. Choose the best answer. 45. According to Friedman, in what way are "social responsible" actions by businesses "undemocratic"? A. Because this is generally what the owners of the business want, and what they employ executives to do. B. Because they involve doing things that should be done by governments. C. Because only people can have responsibilities, and not corporations. 46. According to the text, what other desires might stockholders have, apart from making as much money as possible? CÙNG BELL QUA MÔN TIẾNG ANH 6 A. Lower dividends, higher prices, or lower wages. B. A society with less pollution or less unemployment and fewer social problems. C. A government that takes on social responsibilities. What does each of the underlined words refer to? 47 “… he argued that people who say that business has …” (Para. 1) 48 “… to say that he is to act in some way that is not …” (Para. 3) Find words from the text which mean: 49. complying with or following (rules, etc.) (Para. 2) 50. treating some people in a worse way than you treat other people (Para. 1) 51. making something weaker (Para. 1) 52. causes damage to (Para. 4) 53. according to generally accepted beliefs based on morals (Para. 2) SECTION 4: Listening (20 marks) PART 1: Listen and fill in the gaps. (1mark/answer) But let's think what happens there. I'm working in a cloth factory in a (56) ________________ country. We move from going from no trade to (57) ________________. My country specializes just in computers. What's going to happen, I'm going to (58) ________________ my job. OK. Now that may be a big (59) ________________, governments may be concerned about workers losing jobs in certain sectors. Now we could argue in theory I just need to (60) ________________ my job and become working in computing. It may be very (61) ________________ for me to do that. I may be in the wrong part of the country, I may not have the (62) ________________ and so on. Basically what happens with free trade is that many many people (63) ________________ and a few people may lose and they may lose big time, and if we’re concerned about those people we may want to have some (64) ________________ process, we may be concerned about (65) ________________ free trade. PART 2: Listen and complete the summary (2 marks/answer) Q: What recent changes have you noticed in the job market? CÙNG BELL QUA MÔN TIẾNG ANH 7 A: The most unique change in the job market recently is the intervention of (66) ________________ ________________ and websites. As a global business, we can recruit roles that are based wherever. Besides, the candidate or (67) ________________ ________________ do have a large number of choice. For example, you can go online at home to look for roles and jobs that are advertised worldwide. It’s an absolutely (68) ________________ ________________ for both candidates and employers. In terms of the recruitment market, there has been an increasing need for interim and temporary employees. The fact is that many organizations will continue to experience change, and quite often, (69) ________________ ________________ will need to be brought in on project bases to handle specific projects in areas such as IT, (70) ________________ ________________ … and people will keep looking for project management.