Setting Incremental Goals That Can Be Achieved in a Year

question 173

Multiple Choice

Setting incremental goals that can be achieved in a year or less is a process called ____ planning.

• A) tactical
• B) strategic
• C) operational
• D) futuristic

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Definitions:

Reserve Ratio

The fraction of depositors' balances banks must hold in reserve and not lend out.

Excess Reserves

Funds that banks hold over and above the legal reserve requirement set by central banking authorities.

Government Bonds

Securities issued by a government to raise funds from the public to finance its expenditure needs.

Monetary Policy

The process by which the central bank or monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure economic stability.