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Econimics HS-HU601

Economics mcq

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32 views4 pages

Econimics HS-HU601

Economics mcq

Uploaded by

SUPER HITZZ
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

…………………………… estimates are used for determining project feasibility and


in a project’s initial planning and evaluation phase.
a) Rough
b) Detailed
c) Semi-detailed
d) Segmenting
2. …………………………… estimates are used for budgeting purpose at a project’s
conceptual or preliminary design stage.
a) Detailed
b) Rough
c) Semi-detailed
d) Per-unit
3. …………………………… estimates are used for project’s contract bidding phases.
a) Semi-detailed
b) Detailed
c) Rough
d) Power-sizing
4. …………………………….. estimates have an accuracy of -30 to 60%.
a) Detailed
b) Rough
c) Semi-detailed
d) Power-sizing
5. …………………………….. estimates have an accuracy of -15 to 20%.
a) Semi-detailed
b) Rough
c) Detailed
d) Per-unit
6. …………………………….. estimates have an accuracy of -3 to 5%.
a) Detailed
b) Rough
c) Semi-detailed
d) Segmenting
7. …………………………….. estimates are order-of-magnitude estimates.
a) Detailed
b) Rough
c) Semi-detailed
d) Power-sizing
8. ………………………………. cost estimating model is commonly used in construction
industry
a) Segmenting
b) Per-unit
c) Cost-indexes
d) Power-sizing
9. Difficulties in developing cost estimates arise from such conditions as:
a) One-of-a-kind estimates
b) Resource and time availability
c) Estimator expertise
d) All of these
10. An estimate is decomposed into its individual components, estimates are made at those
lower levels, and then the estimates are aggregated (added) back together in
……………………… estimating model.
a) Per-unit
b) Segmenting
c) Cost-indexes
d) Power-sizing
11. The …………………….. model is used to estimate the costs of industrial plants and
equipment.
a) Per-unit
b) Segmenting
c) Cost-indexes
d) Power-sizing
12. ………………………….. are numerical values that reflect historical change in
engineering (and other) costs.
a) Per-unit factor
b) Segmented cost
c) Cost-indexes
d) Power-sizing exponent
13. The cost to provide workplace safety training to a new employee is estimated at ₹600
for a particular manufacturer. If an estimated 30 new employees are hired annually, the
annual workplace safety training cost will be…………
a) ₹600
b) ₹1,800
c) ₹6,000
d) ₹18,000
14. Given the data below,
Estimated annual production volume = 400,000 units
Estimated direct labor cost per unit = ₹3.75
Estimated indirect labor cost per unit = ₹0.92
Estimated raw material and purchased part cost per unit = ₹32.50
All other costs are independent of production volume and are estimated at ₹800,000 per
year.
A manufacturer's total annual cost will be………………..
a) ₹2,668.000
b) ₹15,668,000
c) ₹14,868,000
d) ₹15,300,000
15. Given the data below,
Estimated annual production volume = 400,000 units
Estimated direct labor cost per unit = ₹3.75
Estimated indirect labor cost per unit = ₹0.92
Estimated raw material and purchased part cost per unit = ₹32.50
All other costs are independent of production volume and are estimated at ₹800,000 per
year.
38.25.
A manufacturer's average cost per unit will be……………
a) ₹37.17
b) ₹34.50
c) ₹39.17
d) ₹6.67
16. A building was constructed in 1980 at a cost of ₹2.7 million. According to the
Engineering News-Record, the 1980 average Building Cost Index was 1941. If the
current year Building Cost Index has been estimated at 3620, the current construction
cost for the building will be………………..
a) ₹5.400 million
b) ₹5.036 million
c) ₹5.170 million
d) ₹3.620 million
17. The current cost of a piece of equipment that has 50% more capacity than a similar
piece of equipment that cost ₹37,200, assuming a power-sizing exponent for this type
of equipment as 0.8, will be……………………
a) ₹29,760
b) ₹51,454
c) ₹55,800
d) ₹44,640
18. The current cost of a piece of equipment that cost ₹30,000 five years ago, assuming that
the ratio of the cost indexes (current to 5 years ago) is 1.24, will be…………………
a) ₹29,760
b) ₹51,454
c) ₹55,800
d) ₹37,200
19. The time required to produce the hundredth unit of a production run if the first unit took
32 minute to produce and the learning curve rate for production is 80%
is……………….
a) 7.27 mins
b) 8.27 mins
c) 6.27 mins
d) None of these
20. An economy of scale is indicated by a power sizing exponent
a) =1
b) <1
c) >1
d) None of these
21. A power sizing exponent greater than 1.0 indicates a
a) No economy of scale
b) Diseconomy of scale
c) Economy of scale
d) None of these
22. The learning curve slope indicates
a) ‘How fast’ learning occurs
b) ‘How slow’ learning occurs
c) Number of repetitions
d) None of these
23. learning curve exponent = log (learning curve rate in decimal form) / log x, where x =
a) 2.0
b) 10.0
c) N= Number of repetitions
d) None of these
24. A learning curve rate is 70%, the operator’s time for the first unit is 65 seconds. The
operator’s time for the 50th unit will be……………….
a) 8.68 min
b) 7.68 min
c) 6.68 min
d) None of these
25. The cost of a piece of equipment that has 75% more capacity than a similar piece of
equipment that cost ₹1,000, assuming a appropriate power sizing exponent for this type
of equipment as 0.725, will be…………………
a) ₹1750
b) ₹725
c) ₹750
d) ₹1500

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