Question 1

When we say "let us assume that economic agents are rational," in fact we

Accepted Answer

A) precisely describe behaviour of economic agents. 
B) want economic agents to behave that way. 
C) make an assumption to predict the agents' behaviour. 
D) impose restrictions on our model. 
E) introduce uncertainty into our modelling process. 
A) precisely describe behaviour of economic agents. 
B) want economic agents to behave that way. 
C) make an assumption to predict the agents' behaviour. 
D) impose restrictions on our model. 
E) introduce uncertainty into our modelling process.

Question 2

All but one of the following are economic criteria to evaluate an engineering project. Which one is the non-economic criterion?

Accepted Answer

A) maximum profit 
B) minimum cost 
C) minimum pollution 
D) maximum rate of return 
E) minimum payback period 
A) maximum profit 
B) minimum cost 
C) minimum pollution 
D) maximum rate of return 
E) minimum payback period

When we say "let us assume that economic agents are rational," in fact we

All but one of the following are economic criteria to evaluate an engineering project. Which one is the non-economic criterion?

Time Value of Money

Cash Flow Analysis

Comparison Methods: Part I

Comparison Methods: Part Ii

Financial Accounting and Business Plans

Replacement Decisions

Taxes

Inflation

Public Sector Decision Making

Project Management

Dealing With Uncertainty and Risk

Filters

Exam 1: Engineering Decision Making

When we say "let us assume that economic agents are rational," in fact we

All but one of the following are economic criteria to evaluate an engineering project. Which one is the non-economic criterion?

Time Value of Money

Cash Flow Analysis

Comparison Methods: Part I

Comparison Methods: Part Ii

Financial Accounting and Business Plans

Replacement Decisions

Taxes

Inflation

Public Sector Decision Making

Project Management

Dealing With Uncertainty and Risk

Filters