ENGR110MidtermExamSolutionsF2010

# ENGR110MidtermExamSolutionsF2010 - UCLA Technology...

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Short answer questions (25 points total) Q1. (2 pts) Write out the equation to define gross domestic product (use variables): This question is from the lecture notes GDP = I + G + C + (X-M) Q2. (2 pts) Define all 5 variables on the right side of the GDP equation (use words): I = Investments G = Government C = Consumption X = Exports M = Imports Q3. (2 pts) Complete the following chart regarding recent US GDP data in 2010 (all numbers must be accurate to +/- .1%): This question is form current events Q1 2010 Q2 2010 GDP: 3.7 1.7 Inventory: -2.6 -.8 GDP at final sales: 1.1 .9 Q4. (6 pts) List the approximate historical (1926-2006) annual yields (for the 6 major categories of investments (HINT: Dow is a dozen): This question is from lecture notes Private Equity: 24% Small Cap Stock: 18% Large Cap Stock: 12% Bonds: 6% T-Bills: 4% Inflation: 3% Q5. (5 pts) List the 9 steps involved in the engineering economic analysis framework in their correct order : This question is from chapter 1 1. Recognize the problem 2. Define the goal or objective 3. Assemble relevant data 4. Identify feasible alternatives 5. Select criterion to determine the best alternative 6. Construct a model 7. Predict each alternative’s outcomes or consequences 8. Choose the best alternative 9. Audit the result Q6. (2 pt) What is the current price of oil per barrel? (Numbers must be accurate +/- \$5)
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