Multiple choice

1. The rate the Fed charges member banks for short-term loans is called the 

A. margin rate.

 B. federal funds rate. 

C. discount rate. 

D. reserve requirement. 

2. _______ planning involves choosing specific work targets and assigning employees and teams to carry out plans. 

A. Contingency 

B. Operational 

C. Strategic 

D. Tactical 

3. The Social Club is conducting a breakeven analysis to determine how many tickets it must sell at $15 each to break even on the Holiday Dance. Fixed costs are $2,000, and the variable cost per person is $10. To break even, the Social Club must sell ________ tickets. 

A. 500 

B. 400 

C. 800 

D. 80 

4. The country Artesia exported products totaling $86 billion last year. During the year, Artesia imported products valued at $43 billion. Artesia has a/an 

A. trade deficit of $43 billion. 

B. unfavorable balance of payments. 

C. trade surplus of $43 billion. 

D. exchange rate of 2 to 1.