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/ BSCE 2 First Semester / ESci 131n - Engineering Economy (For CE) / / Long Exam Number 2 A234

Started on Wednesday, 13 October 2021, 8:53 PM

State Finished
Completed on Wednesday, 13 October 2021, 10:23 PM
Time taken 1 hour 30 mins
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Question 1 The principle that price and quantity supplied are directly related.
Correct

Mark 2.00 out A. General Principle of Economics

of 2.00
B. Law of Demand

C. Principle of Investment

D. Law of Supply !

Your answer is correct.

The correct answer is: Law of Supply

Question 2 An economic system where most goods and services are exchanged through transactions by private households
Correct and businesses. Prices are determined by buyers and sellers making exchanges in private markets
Mark 2.00 out
of 2.00 A. Mixed Economy

B. Full Employment

C. Labor Market

D. Market Economy !

Your answer is correct.

The correct answer is:
Market Economy

Question 3 referred to be the process of choosing from alternatives the one with the greatest beneDt net of costs.
Correct

Mark 2.00 out Answer: Decision Making !

of 2.00

The correct answer is: DECISION MAKING

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 Question 4 The principle of ___________ states that a country will specialize in the production of goods in which it has a lower
Correct opportunity cost than other countries.
Mark 2.00 out
of 2.00 A. Comparison of Principal Advantages

B. Comparison of Advantages

C. Comparative Advantages !

D. Comparative Disadvantages

Your answer is correct.

The correct answer is:
Comparative Advantages

Question 5 These are payments received by businesses from selling goods and services.
Correct

Mark 2.00 out Answer: Revenues !

of 2.00

The correct answer is: REVENUES

Question 6 In modern economics, this refers to the most important source of governmental revenue.
Correct

Mark 2.00 out Answer: Tax !

of 2.00

The correct answer is: TAX

Question 7 Is the remuneration paid for the service of labor in production, periodically to an employee/worker.
Correct

Mark 2.00 out Answer: Wage !

of 2.00

The correct answer is: WAGE

Question 8 The situation resulting when the quantity supplied exceeds the quantity demanded of a good or service, usually
Correct because the price is for some reason below the equilibrium price in the market.
Mark 2.00 out
of 2.00
Answer: Surplus !

The correct answer is: SURPLUS

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Page 2 of 5

Question 9 The situation resulting when the quantity demanded exceeds the quantity supplied of a good or service, usually
Correct because the price is for some reason below the equilibrium price in the market.
Mark 2.00 out
of 2.00
Answer: Shortage !

The correct answer is: SHORTAGE

:
 Question 10 A legal limit on the quantity of a particular product that can be imported or exported.
Correct

Mark 2.00 out Answer: Quota !

of 2.00

The correct answer is: QUOTA

Question 11 A man who won 300,000php in lottery decided to place 50% of winnings in a trust fund for the college education
Correct of his son. If the money will earn 14% compounded quarterly, how much will the man have at the end of 10 years,
Mark 5.00 out when his son will be starting his college education.
of 5.00
A. 555,578.72 PHP
B. 517,489.69 PHP

C. 549,248.05 PHP

D. 593,888.96 PHP !

Your answer is correct.

The correct answer is:
593,888.96 PHP

Question 12 Kate borrowed 10,000 from Engr. Gavs on July 11, 2018 and promised to pay it by December 21, 2018. How much
Correct should Kate pay if the rate of simple interest is 15%? Consider Exact Simple Interest.
Mark 5.00 out
of 5.00 A. 10,669.68 !

B. 10,436.75

C. 11,479.98

D. 10,968.47

Your answer is correct.

The correct answer is:
10,669.68

Question 13 Mr. Franz buys a house and lot with a down payment of 150,000PHP and 15 deferred payment of 10,000PHP
Correct starting 2 years from now. If the rate of interest is 12% compounded semi-annually, determine the cash price of
Mark 5.00 out the house and lot.
of 5.00
A. 231,545.92 !

B. 259,869.78

C. 263,987.72

D. 293,869.79

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Your answer is correct. Page 3 of 5
The correct answer is:
231,545.92
:
 Question 14 Jarrod wishes to prepare the future of his ten year old son. Determine the monthly savings that he should make
Incorrect with interest at 5.41% per annum to amount to 120,000PHP at the time his son will be 18 years old.
Mark 0.00 out
of 5.00 A. 1085.69

B. 1100.85

C. 998.63

D. 1001.74 "

Your answer is incorrect.

The correct answer is:
1085.69

Question 15 Ms. Jomarie as a mother wishes to provide 4,000PHP for her son on his 21st birthday. How much should she
Correct deposit every 6 months in a savings bank which pays 3% compounded semi-annually, if the Drst deposit is made
Mark 5.00 out when her son is 3.5 years old.
of 5.00
A. 91.87

B. 102
102.96

C. 84.61 !

D. 98.63

Your answer is correct.

The correct answer is:
84.61

Question 16 Kate borrowed 10,000 from Engr. Gavs on January 11, 2019 and promised to pay it by June 21, 2019. How much
Correct should Kate pay if the rate of simple interest is 15%?
Mark 5.00 out
of 5.00 A. 11,964.05

B. 11,579.36

C. 10,046.57

D. 10,679.17 !

Your answer is correct.

The correct answer is:
10,679.17

Question 17 Engr. Yoyi Bells donated a fund to provide a scholarship to deserving students. The fund will grant 10,000PHP for
Correct the Drst Dve years, 15,000PHP for the next 5 years, and 5,000PHP each year thereafter. The scholarship will start
Mark 5.00 out one year after the fund was established. If the fund earns 8% interest compounded annually, what is the amount
of 5.00 of donation?
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Page 4 of 5
A. 109,637.26 !

B. 115,356.48

C. 123,869.36

D. 110,893.47

Your answer is correct.

The correct answer is:
109,637.26
:
 Question 18 Explain the importance of Engineering Economy in Civil Engineering Profession. (maximum 100 words)
Complete

Marked out of As mentioned many times before, Civil Engineering is a profession of so many scopes. And evidently, the
5.00 concepts in engineering economy help validate that statement. In this subject, engineers are able to have an in-
depth understanding of the business environment and the economy, in general. SpeciDcally, this subject will teach
us in making the right decisions, knowing when to take risks, providing proper substitutions, dealing with work
problems, and a lot more. Engineering economy also enables us to make constant transactions with the people in
our future workplace, which in turn, leads to a better social relationship and quality workmanship.

Word count: 100

◀ PART 4 (ELIZAGA AND LONG EXAMINATION 2

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