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Principles Of Engineering: Economics

Subject : engineering
Instructions:
  • Answer 21 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Estimate the cash flows






2. To move money backward one time unit - DIVIDE by one plus the discount or interest rate






3. Identify the investment alternatives






4. To move money forward one time unit - MULTIPLY by one plus the discount or interest rate






5. Compare the alternatives






6. Money has a time value






7. Define the planning horizon






8. Two investment alternatives are equivalent if they have the same economic worth






9. Consider only differences in cash flows among investment alternatives






10. Choose the mutually exclusive investment alternative that maximizes economic worth






11. Select the preferred investment






12. Past costs are irrelevant in engineering economic analyses - unless they impact future costs






13. Marginal revenue must exceed marginal cost






14. Money cannot be added or subtracted unless it occurs at the same point(s) in time






15. Money should continue to be invested as long as each additional increment of investment yields a return that is greater than the investor's time value of money






16. Perform supplementary analyses






17. Risks and returns tend to be positively correlated






18. Specify the discount rate






19. Make investments that are economically justified






20. Money has a time value






21. Compare investment alternatives over a common period of time







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