‘levy‘ Meaning

• an amount of money, such as a tax, that you have to pay to a government or organization; (of a government or organization) to demand an amount of money, such as a tax, from a person or organization

• someone working in a bureaucracy; a member of a bureaucracy

• only and not involving anyone or anything else

Answer explanation

Example:

1. They imposed a five percent levy on alcohol.

2. A new tax was levied on consumers of luxury goods.

3. The City Council can levy a fine of $250 for a first offence.

4. A levy was imposed on cotton imports.

5. Taxes and fees levied on motorists would pay for the new highway.

6. The financial authority is to impose a levy on every financial product sold.

7. be exempt from/pay a levy Social Security income that resides in a bank account is exempt from a levy.

8. abolish/end a levy The government plans to abolish a levy on equities trading.

9. levy a tax on sth The tax is levied on companies' energy use.

‘amendment‘ Meaning

• connected with (public) money; relating to public money or other financial matters; relating to government finance and taxes; relating to a period of 12 months, or a part of that period, used by a company to calculate and report its financial information; (fiscal 2010/2011 etc.)fiscal 2010/2011 etc.

• a change or changes made to the words of a text; a change to a law that is not yet in operation and is still being discussed; a change or addition to the US constitution; a law or change that has been addedto the US Constitution (= the set of political principles by which the US is governed) since it was first written

• someone working in a bureaucracy; a member of a bureaucracy

Answer explanation

Example:

1. He insisted that the book did not need amendment.

2. I’ve made a few last-minute amendments to the article.

3. Presidential power was reduced by a constitutional amendment in 1991.

4. An amendment to the bill was agreed without a vote.

5. the First/Fifth/Fourteenth amendment

6. a constitutional amendment

7. The company claimed that the First Amendment, which guarantees free speech, protects the rightto advertise.

‘bureaucrat‘ Meaning

• only and not involving anyone or anything else

• a long journey, especially by ship; to travel

• someone working in a bureaucracy; a member of a bureaucracy

Answer explanation

Example:

1. It turned out she was one of those faceless bureaucrats who control our lives.

2. School administrators, she said, who are the on-the-spot bureaucrats, should make these decisions rather than Washington bureaucrats.

‘voyage‘ Meaning

• connected with (public) money; relating to public money or other financial matters; relating to government finance and taxes; relating to a period of 12 months, or a part of that period, used by a company to calculate and report its financial information; (fiscal 2010/2011 etc.)fiscal 2010/2011 etc.

• a long journey, especially by ship; to travel

• only and not involving anyone or anything else

Answer explanation

Example:

1. He was a young sailor on his first sea voyage.

2. The first year of a loving relationship is a voyage (= period) of discovery.

3. In their little boat they planned to voyage to distant lands.

4. Christopher Columbus brought cattle on his second voyage to America in 1493.

‘solely‘ Meaning

• only and not involving anyone or anything else

• connected with (public) money; relating to public money or other financial matters; relating to government finance and taxes; relating to a period of 12 months, or a part of that period, used by a company to calculate and report its financial information; (fiscal 2010/2011 etc.)fiscal 2010/2011 etc.

• given or made available for a particular purpose

Answer explanation

Example:

1. I bought it solely for that purpose.

2. It seems he's not solely to blame for the accident.

3. The product's success cannot be attributable solely to the ads.

‘fiscal‘ Meaning

• quiet and easy to influence, persuade, or control; calm in manner and easy to control

• given or made available for a particular purpose

• connected with (public) money; relating to public money or other financial matters; relating to government finance and taxes; relating to a period of 12 months, or a part of that period, used by a company to calculate and report its financial information; (fiscal 2010/2011 etc.)fiscal 2010/2011 etc

Answer explanation

Example:

1. fiscal policy

2. a sound fiscal policy

3. fiscal challenges/ issues/problems With the serious fiscal challenges facing the federalgovernment, agencies must maximize their ability to manage and safeguard valuable taxpayers' dollars.

4. fiscal deficit/surplus Overall, the situation looks favourable in terms of the fiscal surplus he has projected.

5. The governor said the fiscal crisis couldn't be solved by spending cuts alone, insisting the stateneeds additional revenue.

6. Analysts said yesterday's settlement was unlikely to affect the company's fiscal health.

7. The software company's fiscal third-quarter net income of $1.06 million, or 10 cents a share, fellshort of Wall Street's expectations.

8. Our fiscal 2009 results were challenged by the world economic downturn.

9.It is fiscally irresponsible for us to spend money that we do not have.