APSC 221 FINAL Question and answers verified to pass 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 FINAL Question and answers verified to pass 2024/2025 APSC 221 FINAL
The general Price-Demand relationship can be expressed as a linear function. (T/F) - correct answer True
When alternatives for accomplishing a specific task are being compared over one year or less (time value o...
APSC 221 FINAL
The general Price-Demand relationship can be expressed as a linear function.
(T/F) - correct answer ✔True
When alternatives for accomplishing a specific task are being compared over
one year or less (time value of money is ignored) they can be referred to as: -
correct answer ✔Present economy studies
One reason why perfect monopolies rarely occur in practice is because: -
correct answer ✔Few products are so unique that substitutes cannot be
used.
A license fee is an example of an incremental cost. (T/F) - correct answer
✔False
Working capital refers to the funds required for current assets that are needed
for the start-up and support of operational activity (T/F) - correct answer
✔True
Your company must decide what to do with an old pump it purchased 12
years ago. The pump hasn't been used for two years and is now in storage.
You have collected the following data;
Purchase price 12 years ago = $7,000
Storage costs to date = $500
Current price for a new pump = $12,000
,Amount offered for the pump two years ago = $1,250
Best estimate of what the pump would bring today = $1,000
What is the opportunity cost associated with this pump? - correct answer
✔$1000
________ are costs that are difficult to attribute or allocate to a specific output
or work activity. - correct answer ✔Indirect costs
Sunk costs should be included in an engineering economic analysis. (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
An index is a dimensionless number that indicates how a cost or price has
changed with time with respect to a base year. (T/F) - correct answer ✔True
______ are used in the preliminary or conceptual design stage of a project. -
correct answer ✔Semi-detailed or budget estimates
__________ is the use of historical cost data and statistical techniques to
predict future costs. - correct answer ✔Parametric cost estimating
The power-sizing technique is sometime referred to as a linear model. (T/F) -
correct answer ✔False
, The WBS is sometimes called a work element structure. (T/F) - correct
answer ✔True
The _______ defines a maximum time period and establishes a range of cost
and revenue elements that need to be considered - correct answer ✔Life
Cycle
Material costs are an example of costs that are typically included in an
engineering economy study.(T/F) - correct answer ✔True
Which technique sums the product of several quantities or components and
adds these to any components estimated directly? - correct answer ✔Factor
Technique
Effective interest rate is the conventional method of stating the annual interest
rate. (T/F) - correct answer ✔False
Compound interest takes the interest accumulated in one interest period and
adds it to the principle amount used to calculate interest in the next period.
(T/F) - correct answer ✔True
Market equivalence is a consequence of the ability to _________ one cash
flow for another at zero cost. - correct answer ✔Exchange
Mathematical equivalence is a consequence of the mathematical relationship
between _______. - correct answer ✔Time and Money
The conventional approach for computing interest is the compound interest
approach. (T/F) - correct answer ✔True
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