Vocabulary exercise

1. Federal budget e__________ on education is going to increase by 28 percent in 2011 (expense, spending).

2. The decision to delay the policy will increasingly b________ the budget (load, charge).

3. President Barack Obama said theU.S. can't s___________ spending on education as government works to reduce record budget deficit (devote, kill, dedicate).

4. Gross i_______ includes all income earned or received from whatever source (earnings, revenue).

5. The workshop focuses on u_________ methods and tools for the empirical testing of theories in regional and urban economics (modern, fashionable).

6. The e_________ “out-of-pocket costs” is defined as expenses that are direct outlays of cash which may or may not be later reimbursed. (term)

7. A state may have other concerns a_____ ______ costs in deciding whether to contract for prison operations (except for).

8. Cities and towns may l______ a tax of not more than five dollars ($5.00) per year upon any vehicle resident in the city or town (impose).

9. There are several ways to correct the current m________ information about economic growth (ambiguous, false).

10. Upon leaving a job, whether for retirement or another change, huge numbers of employees yearly are eligible for a l_____ payment from their employer's retirement plan (entire payment, bulk payment).

11. Why are corporates in tax free zones e_____ _____ taxes (free of)?

12.Government tax foreclosed homes offer great opportunity to buy homes for a f________ of the amount of their real value (part, proportion).

13.A low t________ implies poor sales and, therefore, excess inventory (trading volume).

14.In the borderline case in which the low value of the good exactly equals its cost, the seller never exits the market (marginal).

15.I__________ Tax is imposed on the value of a decedent's (pokojnik) estate transferred to beneficiaries by Will or intestacy.

1. Australia’s trade policy seeks to m______trade benefits for all Australians by securing market gains through multilateral, regional, and bilateral approaches (increase excessively).

2. If there is an increase in the relative priceof a country’s imported good, its national w____ will decrease (goodness,good).

3. The main types of trade r_______ are tariffs (limitations).

4. For a c_______ market to be established, there must be very broad consensus on the variations in the product that make it acceptable for one purpose or another (goods).

5. L________ is a word that comes from the Latin language, meaning "those who write the laws.“

6. His fear of snakes s______ ______an incident in his childhood (comes from, originates from).

7. The a______ of World War II introduced a new era of tensions arising from opposing ideologies, mutual distrust, and a nuclear arms race between East and West (consequence, outcome).

8. The m_____ of trade unions has been clear cut, to protect and advance the interests of workers through negotiations with the employers at enterprise level (authorisation).

9. In his new role, he'll o____ the management of the university's financial and real estate assets (supervise).

10.The Egyptian authorities became willing to and capital account regulations starting in l_____ trade autumn 1991 (make free).

11. Our result supports the view that financial constraints act as a b_____ to export participation (obstacle).

12. Rather than a single, dramatic movement, the smooth s_____of a business more resembles a flow of events that occurs over time (a sequence, a series).

13. Members of the World Trade Organization aim to eliminate, reduce or at least the h______ tariffs they charge each other (accord).

14. The economic characteristics of the study area were evaluated due to their impact on the urban e_____ and economic growth of the city (enlargement).

15. The current l____ price of unemployed population needs to be determined by the commune's leadership on the basis of the commune's needs and possibilities (work).