Engineering Economics Financial Decision Making for Engineers 5th Edition By Niall M. Fraser Test Bank

ISBN-10 ‏ : ‎ 0132379252, ISBN-13 ‏ : ‎ 978-0132379250

Engineering Economics, 5e (Fraser)

Chapter 1   Engineering Decision Making 

1.1   Multiple Choice Questions

1) Evaluation of an engineering project involves the following constraints:

1. A) financial, environmental, social and political constraints.
2. B) technical and financial constraints.
3. C) technological and social constraints.
4. D) time and money constraints.
5. E) budget and time constraints.

Answer:  A

Diff: 1    Type: MC     Page Ref: 3

Topic:  1.1. Engineering decision making

Skill:  Recall

User1:  Qualitative

2) Engineering economics is

1. A) a body of knowledge to determine which of several alternative is technically best.
2. B) a collection of techniques for quantitative analysis to select a preferable alternative from several technically viable ones.
3. C) a set of tools to calculate an engineering project’s costs.
4. D) a set of rules to evaluate an engineering project.
5. E) a set of methods to determine an engineering project’s costs in terms of time value of money.

Answer:  B

Diff: 1    Type: MC     Page Ref: 3

Topic:  1.2. What is engineering economics

Skill:  Recall

User1:  Qualitative

3) From an economic standpoint, any engineering project can be thought of in terms of

1. A) its costs and benefits over time.
2. B) its constraints.
3. C) its receipts and disbursements.
4. D) its revenues and profits over time.
5. E) its investment and costs over time.

Answer:  A

Diff: 1    Type: MC     Page Ref: 3

Topic:  1.2. What is engineering economics

Skill:  Recall

User1:  Qualitative

4) In the context of your textbook, abstraction means

1. A) a study.
2. B) a method
3. C) a methodology
4. D) a model.
5. E) an approach

Answer:  D

Diff: 1    Type: MC     Page Ref: 6

Topic:  1.4. Dealing with abstractions

Skill:  Recall

User1:  Qualitative