The San Gabriel Valley Chapter of the Institute of Management

question 6

Multiple Choice

The San Gabriel Valley chapter of the Institute of Management Accountants sponsors four computer seminars each year: Access, Excel, PowerPoint and QuickBooks. Participants can sign up for any or all of the seminars; pricing varies with the number of seminars and with the participant's membership and professional status. For example, a student member of the IMA can sign up for one seminar for $30, or all four for $100. A non-member of the IMA, whether a student or not, would pay $50 for one seminar or $150 for all four. Elliot receives registrations via e-mail and collects payment at the beginning of each seminar.
-A flowchart of the preceding process would be organized in ___ columns.

• A) One.
• B) Two.
• C) Three.
• D) More than three.

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Definitions:

GDP

Gross Domestic Product, which is the total market value of all final goods and services produced within a country in a specific period.

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate measure of economic growth by reflecting the value of all goods and services produced at constant prices.

Deflation

A drop in the overall cost of goods and services, frequently resulting from a decrease in the availability of money or credit.

Inflation

The measurement of how swiftly the overall prices of goods and services increase, eroding the power to buy.