APSC 221 MC Question and answers already passed 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 MC Question and answers already passed 2024/2025 APSC 221 MC
The general price-demand relationship can be expressed as a linear function. (T/F) - correct answer True
A license fee is an example of an incremental cost. (T/F) - correct answer False
One reason why perfect monopo...
APSC 221 MC
The general price-demand relationship can be expressed as a linear function.
(T/F) - correct answer ✔True
A license fee is an example of an incremental cost. (T/F) - correct answer
✔False
One reason why perfect monopolies rarely occur in practice is because:
a) few products are so unique that substitutes cannot be used.
b) a large number of vendors can supply the same product.
c) additional suppliers can enter the marker freely.
d) people usually stop buying the product before this occurs - correct answer
✔a)
The power-sizing technique is sometimes referred to as a linear model. (T/F) -
correct answer ✔False
CERs are excellent predictors of cost if they are correctly developed from
good historical data. (T/F) - correct answer ✔True
Which technique sums the product of several quantities or components and
adds these to any components estimated directly? a) unit technique.
b) power-sizing techniques.
c) factor techniques.
d) adding techniques - correct answer ✔c)
,___ is the use of historical cost data and statistical techniques to predict future
costs.
a) power-sizing.
b) parametric cost estimating.
c) selected estimating.
d) historical estimating - correct answer ✔b)
The WBS is sometimes called a work element structure. (T/F) - correct
answer ✔True
What does Cn stand for in the above equation?
a) reference year for which cost is known.
b) cost of price of the item in reference year.
c) year for which the cost is to be estimated.
d) estimated cost of price of the item in year being analyzed. - correct answer
✔d)
Material costs are an example of costs that are typically included in an
engineering economy study. (T/F) - correct answer ✔True
___ are used in the preliminary or conceptual design stage of a project.
a) cost and revenue estimates
b) definitive estimates
c) semi-detailed or budget estimates
d) order of magnitude estimates - correct answer ✔c)
The ___ defines a maximum time period and establishes a range of cost and
revenue elements that need to be considered in developing cash flows.
, a) life cycle
b) work breakdown structure
c) estimating techniques
d) cost model - correct answer ✔a)
The conventional approach for computing interest is the compound interest
approach. (T/F) - correct answer ✔True
Compound interest takes the interest accumulated in one interest period and
adds it to the principle amount used to calculated interest in the next period.
(T/F) - correct answer ✔True
Mathematical equivalence is a consequence of the mathematical relationship
between___.
a) first cost and salvage value
b) sunk cost and opportunity cost
c) depreciation and market value
d) time and money - correct answer ✔d)
The base unit of time over which an interest is calculated is called the___.
a) interest duration
b) time period
c) interest cycle
d) interest period - correct answer ✔d)
On a cash flow diagram, the vertical arrows pointing upwards represent a
negative cash flow. (T/F) - correct answer ✔False
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