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Test Bank for Engineering Economics Financial Decision Making for Engineers Canadian 6th edition
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Test Bank for Engineering Economics Financial Decision Making for Engineers Canadian 6th edition

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  • March 7, 2024
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  • 2023/2024
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Test Bank for Engineering Economics Financial
Decision Making for Engineers Canadian 6th
edition

, TEST Bank


Engineering Economics
6th Edition
Niall M. Fraser


Elizabeth M. Jewkes


Mehrdad Pirnia

,Engineering Economics, 6e (Fraser/Pirnia)
Chapter 1 Engineering Decision Making

1.1 Multiple Choice Questions

1) Evaluation of an engineering project involves the following constraints
A) financial, environmental, social and political constraints.
B) technical and financial constraints.
C) technological and social constraints.
D) time and money constraints.
E) budget and time constraints.
Answer: A
Diff: 1 Type: MC Page Ref: 3
Topic: 1.1. Engineering decision making
Skill: Recall
Type: Qualitative

2) Engineering economics is
A) a body of knowledge to determine which of several alternative is technically best.
B) a collection of techniques for quantitative analysis to select a preferable alternative from
several technically viable ones.
C) a set of tools to calculate an engineering project's costs.
D) a set of rules to evaluate an engineering project.
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
Type: Qualitative

3) From an economic standpoint, any engineering project can be thought of in terms of
A) its costs and benefits over time.
B) its constraints.
C) its receipts and disbursements.
D) its revenues and profits over time.
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
Type: Qualitative




1
© 2017 Pearson Canada Inc.

, 4) In the context of your textbook, abstraction means
A) a study.
B) a method.
C) a methodology.
D) a model.
E) an approach.
Answer: D
Diff: 1 Type: MC Page Ref: 6
Topic: 1.4. Dealing with abstractions
Skill: Recall
Type: Qualitative

5) When an engineer prepares a feasibility study, what economic information must she possess in
order to do it correctly?
A) engineering specification
B) expert opinion about this project
C) macroeconomic situation in the world
D) potential future costs and benefits of the project
E) the level of uncertainty
Answer: D
Diff: 2 Type: MC Page Ref: 6
Topic: 1.4. Dealing with abstractions
Skill: Applied
Type: Qualitative

6) In which of the following problems do you need engineering economics?
A) to choose a course in your program
B) to chose the right textbook
C) to decide whether to borrow money from parents or from a bank
D) to decide whether or not to buy a car
E) to decide where to spend summer vacation
Answer: C
Diff: 2 Type: MC Page Ref: 6-8
Topic: 1.4. Dealing with abstractions
Skill: Applied
Type: Qualitative




2
© 2017 Pearson Canada Inc.

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