Friday, May 31, 2019
A Formal Application :: Free Essay Writer
The Ambiguity of DeathSince the creation of man, certain primal urges have been imprinted into the human beings psyche. Out of galore(postnominal) of those the instinct of death is included, probably stemming from the necessity of killing to obtain ones food. The instinct of death remains today and has been changed, adapted, suppressed and exemplified. In "A Formal Application" the ironic theory of applying death as a way of life is portrayed through a mans interpret of killing a bird. The song flows through the practice, planning and execution of a common bird. The climax of the poem comes when he refers to his act of violence as an "Audubon rood-tree". Through various examples in history he validates this unnecessary crucifix. "A Formal Application" rejoins the human race by immortalizing the importance of death.     The structure of the poem is separated into lead sections containing three stanzas each. There is no apparent rhyme sc heme making it a free verse and prose piece. The setting is outside, close to likely close to the speakers house, and surrounded by forest and wildlife. It takes place in the mid 1900s and probably in the spring-time. This piece is compiled of nine triplets separated into three sections. The first section of three triplets starts with the speaker honing his knife throwing skills.     In the first section the speaker starts his training. By this practice he automatically tells us that he wants for this action to happen perfectly. By perfecting his skills he confirms to us the importance of this act to him. In the first stanza he begins to learn how to inflict pain with his knife by throwing it. He molds a kitchen utensil into a fatal weapon by enhancing his throwing skills. The second stanza shows his progression from merely throwing the knife, to hitting a target. The last stanza involves him targeting a piteous object. This indicates he will be inflicting harm on a living thing with his weapon of choice      With his means of weaponry defined we learn he still needs not only a moving target but a living one. The next section of triplets signifies his planning and enticing of his prey. In the first stanza he starts to weave his lesson of deception by "teaching" the birds. By tricking the birds into thinking he is a source of food, he gains the necessary element of astonishment he needs for his later crucifixion.
Thursday, May 30, 2019
A Philosophical Criticism of Augustine and Aquinas Essay -- Philosophy
A Philosophical Criticism of Augustine and Aquinas The Relationship of Soul and Body The relationship of the human instinct and physical body is a topic that has mystified philosophers, scholars, scientists, and mankind as a whole for centuries. Human beings, who are always concerned about their place as individuals in this world, conduct attempted to determine the precise nature or utter of the physical form. They are concerned for their well-being in this earthly environment, as well as their essenceual well-being and most have been perturbed by the suggestion that they cannot escape the wrongs they have committed while in their physical bodies. Throughout the evolution of philosophic thought, there have been many different views on the relationship of mind and body. The great philosopher Plato and the Neoplatonists held the belief that mans body is merely a prison of his soul, but St. Augustine afterwards refutes this with his idea of the disembodied soul. He distinguish es between the concept of the physical form and the spiritual soul, and he argues that humankind can be redeemed because of the God spirit contained in the intellectual soul. This intellectual soul is not an inseparable part of the body, as St. doubting Thomas Aquinas postulates. Instead, this soul is indeed the higher part of man, the state and well-being of man depends upon its stability. St. Thomas Aquinas adjusts this theory. He claims that the soul and body are inseparable, and he states that the soul is the form of the body. St. Thomas further believes that God creates the soul and matter (physical body) simultaneously, and the body affects the nature of that soul. His conception of redemption is distinctly different from Augustine he a... ...stine essays on some aspects of his thought written in commemoration of his fifteenth centenary. Sheed and Ward, Ltd., London 1945. Rev. D.J. Leary. St. Augustine on Eternal Life. Burns, Oates and Washbourne, Ltd., London 1939. W. An drew Hoffecker. Building a Christian World View, vol. 1 God, man, and Knowledge. Presbyterian and Reformed Publishing Co., Phillipsburg, New Jersey 1986. William S. Babcock. The Ethics of St. Augustine JRE Studies in Religion, no. 3. Scholars Press, Atlanta 1991. Armand Maurer. Being and Knowing Studies in Thomas Aquinas and Later Medieval Philosophers, Papers in Medival Studies, no. 10. Pontifical Institute of Medival Studies, Toronto 1990. Thomas Aquinas. Faith, Reason and Theology. Armand Maurer,translator. Medival Sources in Translation, vol. 32. Pontifical Institute of Medival Studies, Toronto 1987.
Charles Rennie Mackintosh Essay -- Essays Papers
Charles Rennie Mackintosh.Charles Rennie Mackintosh was born in Glasgow on 7 June 1868. Hetrained as an room decorator in a local firm and studied cunning & design atevening classes at the Glasgow School of Art.For 20 years he worked as an architect/designer in Glasgow where allhis best known work was created. Much of it is still there today.At art school Mackintosh and his booster dose and colleague Herbert MacNairmet the artist sisters Margaret and Frances Macdonald. These fourartists collaborated on designs for furniture, metalwork andillustration, developing a distinctive imagery of weird, abstractedfemale figures and metamorphic lines reminiscent of Aubrey Beardsley.Their style gain them the nickname of the Spook School and theirwork, particularly in England, was treated with suspicion because ofits decadent influence of Continental art nouveau. At this timeContinental Art Nouveau was frowned upon by art critics.The majority of Mackintoshs work was created, with the help of a small number of patrons, within a short period of intense activitybetwe...
Wednesday, May 29, 2019
The Effects of Divorce on Children Essay -- Impact of Divorce on Child
Divorce is becoming a worldwide phenomenon, significantly affecting childrens well-being. It radically changes their future causing deadly effects. According to (Julio Cceres-Delpiano and Eugenio Giolito, 2008) nearly 50% of marriages end with divorce. 90% of children who lived in the USA in the 1960s stayed with their own biological parents, whereas today it makes up moreover 40% (Hetherington, E. Mavis, and Margaret Stanley-Hagan, 1999). Such an unfavorable problem has been increasing, because in 1969, the legislation of California State changed the divorce laws, where spouses could leave without providing causes (Child Study Center, 2001). This resolution was accepted by the separate states and later, the number of divorced people has been steadily growing. Such a typical situation is common for most countries in the world, which negatively affects childrens individuality. However, remarkably little(a) amount of people can conceive the impact of marital separation caused to of fspring. (? passive) Many children after separation of parents are exposed to a number of changes in the future. They have to be getting used to a further living area, feelings and circumstances. Their response to divorce can vary and depends on age, gender and personal characteristics. This probe will show the effects of divorce on children under various aspects such as educational, psychological and social impact. In addition, it will contain selective information about the divorce rate in the US and present disparate reactions of children. It will also include adequate recommendations for parents as to how act to children after divorce, in order to minimize the adverse effect on children.Increasing divorce rateDuring the 1960s and 1980s in the USA, there were signi... ...d become more successful. kit and caboodle CitedHetherington, E. Mavis, and Margaret Stanley-Hagan. The Adjustment of Children with Divorced Parents A Risk and Resiliency Perspective. Journal of Child Psycholog y & Psychiatry & Allied Disciplines 40, no. 1 (January 1999) 129. Academic Search Premier, EBSCOhost (accessed shew 8, 2011).Sobolewski, Juliana M., and Paul R. Amato. 2007. Parents Discord and Divorce, Parent-Child Relationships and Subjective Well-Being in Early Adulthood Is Feeling Close to Two Parents Always Better than Feeling Close to ace?. Social Forces 85, no. 3 1105-1124. Academic Search Premier, EBSCOhost (accessed March 8, 2011).Shansky, Janet. 2002. NEGATIVE EFFECTS OF DIVORCE ON CHILD AND ADOLESCENT PSYCHOSOCIAL ADJUSTMENT. Journal of Pastoral counseling 37, 73. Academic Search Premier, EBSCOhost (accessed March 8, 2011).
The Skystone and The Singing Sword :: Historical Novels Jack Whyte Essays
The Skyst unity and The Singing Sword Marion Zimmer Bradley, a book critic, says The Skystone is one of the most interesting historical novels that Ive ever read, and Ive read plenty(Front cover). In writing, success is generally a direct result of an author being adequate to keep a reader interested. Jack Whyte is an interesting and successful author throughout The Skystone and The Singing Sword because of his teaching of characters and his ability to write strategically. Character learning is an important gene in a story because if readers feel strongly about the characters, they are interested in reading further, and are more adroit to enjoy the novel. Jack Whyte effectively develops the characters Caius Britannicus and Claudius Seneca through their words and actions in The Skystone and The Singing Sword, creating a strong impression of these characters in the mind of the reader. Another crucial element to Jack Whytes success is his strategical writing. His ability to seize the attention of a reader immediately, and to maintain that level of intrigue throughout the novel until his climactic decision is reached, demonstrates a well planned writing strategy, and is a significant contribution to his success. In The Skystone and The Singing Sword, Jack Whytes character development and strategical writing bring in and maintain the interest of the reader, exhibiting a basis for his success.In Jack Whytes novels, he develops his characters effectively, sparking the interest of the reader. In The Skystone and The Singing Sword, one of the characters that Whyte develops well is Caius Britannicus. Throughout these two novels, Britannicus development is seen through the eyes of Publius Varrus, the main character, and Britannicus eventual lifelong friend. From the very beginning of their friendship, Publius recognizes the qualities of Caius as a person, and as a leader, and describes them in The Skystone when saying, from the outset of our relationship Bri tannicus eer treated me with military correctness, slightly warmed by courtesy and consideration. I found him to be just, temperate, and dispassionate in his dealings with the men under his command. but he could be awesome in his wrath when provoked by incompetence or malfeasance. A rigid disciplinarian, he was implacable once he had decided that punishment was in order. And never, at any time, did he show any capacity for suffering fools gladly(37). Although Caius does not initially strike the reader as a particularly amiable character, Jack Whyte continues to develop Britannicus and his friendship with Publius, revealing a more compassionate character.
Tuesday, May 28, 2019
Dukes v. Wal-Mart Essay -- Sexism Gender Walmart Discrimination Essays
Dukes v. Wal-Mart Stores, Inc. is a legal battle concerning whether or not the company engaged volitionfully in gender-based discrimination. Underlying causes, organizational culture and ethical issues will be examined in determining how the largest private employer in the United States could have fallen prey to unfair labor practices.In 1999, women constituted 72% of Wal-Marts hourly employees, but only 33% of its managerial employees (Bhatnagar, 2004). This fact and many others are the reasons many people allege that Wal-Mart has unfair labor practices. The Dukes v. Wal-Mart case challenged the hiring, forward motion and pay practices of Wal-Mart. The case was filed in June 2001. When the case reached class certification status it became the largest class action civil rights suit against employment discrimination in American history. The case represented approximately 1.6 million women that had worked for Wal-Mart from 1998 to 2001 who felt that they had been discriminated again st because of their gender. legion(predicate) women involved in the Dukes case alleged that Wal-Marts policies vary from gender to gender. The managerial lag is comprised mostly of men. The relocation policy in place has a distinct impact on female employees. To become a manager, one must relocate multiple times at each steering level. Female employees claimed that this could potentially have a disparate impact on single and married mothers, whence the policy is not fair to all favoring the chances of a male getting a promotion over a female.According to the Berkeley Womens Law daybook (2004), Wal-Mart pays its employees about one-third less than what similarly unionized employees earn. Wal-Marts slogan is Everyday low prices, and they accomplish this by keeping wages low and by suppressing any efforts made by unions to unionize Wal-Mart. In addition to paying low wages, some Wal-Mart stores allegedly violate the national Fair Labor Standards Act. The Federal Fair Labor Standar ds Act regulates overtime pay and child labor standards. Many employees have claimed that Wal-Mart makes them work more than 40 hours per week without overtime pay. When management realized how much overtime pay they were logging, they would call in managers to adjust the time sheets. An internal audit exposed the violations of the Federal Fair Labor Standards Act.Many o... ...The company should employ the stakeholder theory as opposed to the agency theory. Each member associated with Wal-Mart will be treated fairly and honestly. In incorporating the deontology perspective as opposed to the Utilitarian viewpoint, the company will show its desire to right previous wrongs. Wal-Mart has to implement a number of changes to correct the problems it has created. Attention must be paid to ensure the employee is treated fairly. Other ways must be sought to maintain profit levels and make the stockholders happy.ReferencesBhatnagar, Ritu. (2005). Dukes v. Wal-Mart as a Catalyst for accessibl e Activism. Retrieved July 12, 2005, from the University of genus Phoenix Library EBSCOhost databaseDukes v. Wal-Mart, Inc. (2004). Class Certification Status Decision, United States District Court, Northern California. Retrieved July 15, 2005 from http//www.walmartclass.com/public-home.html.Featherstone, Liza. (2004). Rollback Wages Retrieved July 12, 2005, from the University of Phoenix Library EBSCOhost database.Sellers, Jeff M. (2005). Deliver us from Wal-Mart? Retrieved July 12, 2005, from the University of Phoenix Library EBSCOhost database.
Dukes v. Wal-Mart Essay -- Sexism Gender Walmart Discrimination Essays
Dukes v. Wal-Mart Stores, Inc. is a legal battle concerning whether or not the company engaged willfully in gender-based discrimination. Underlying causes, organizational culture and estimable issues will be examined in determining how the largest private employer in the United States could have fallen prey to unfair labor practices.In 1999, women constituted 72% of Wal-Marts hourly employees, but only 33% of its managerial employees (Bhatnagar, 2004). This fact and many others are the reasons many people allege that Wal-Mart has unfair labor practices. The Dukes v. Wal-Mart encase challenged the hiring, promotion and pay practices of Wal-Mart. The case was filed in June 2001. When the case reached class certification status it became the largest class action civil rights suit against employment discrimination in American history. The case represented approximately 1.6 million women that had worked for Wal-Mart from 1998 to 2001 who felt that they had been discriminated against be cause of their gender.Many women involved in the Dukes case alleged that Wal-Marts policies vary from gender to gender. The managerial staff is comprised mostly of men. The relocation policy in place has a distinct impact on female employees. To become a manager, one moldiness relocate multiple times at each management level. Female employees claimed that this could potentially have a disparate impact on single and unite mothers, therefore the policy is not fair to all favoring the chances of a male getting a promotion over a female.According to the Berkeley Womens justness Journal (2004), Wal-Mart pays its employees about one-third less than what similarly unionized employees earn. Wal-Marts slogan is Everyday diminished prices, and they accomplish this by keeping wages low and by suppressing any efforts made by unions to unionize Wal-Mart. In addition to paying low wages, some Wal-Mart stores allegedly violate the Federal Fair prod Standards Act. The Federal Fair sedulousness Standards Act regulates extra time pay and child labor standards. Many employees have claimed that Wal-Mart makes them work more than 40 hours per week without overtime pay. When management realized how much overtime pay they were logging, they would call in managers to adjust the time sheets. An internal audit exposed the violations of the Federal Fair Labor Standards Act.Many o... ...The company should employ the stakeholder theory as opposed to the agency theory. Each member associated with Wal-Mart will be treated fairly and honestly. In incorporating the deontology linear perspective as opposed to the Utilitarian viewpoint, the company will show its desire to right previous wrongs. Wal-Mart has to implement a number of changes to correct the problems it has created. Attention mustiness be paid to ensure the employee is treated fairly. Other ways must be sought to maintain profit levels and make the stockholders happy.ReferencesBhatnagar, Ritu. (2005). Dukes v. Wal-Mart as a accelerator for Social Activism. Retrieved July 12, 2005, from the University of Phoenix Library EBSCOhost databaseDukes v. Wal-Mart, Inc. (2004). Class Certification Status Decision, United States District Court, Northern California. Retrieved July 15, 2005 from http//www.walmartclass.com/public-home.html.Featherstone, Liza. (2004). Rollback Wages Retrieved July 12, 2005, from the University of Phoenix Library EBSCOhost database.Sellers, Jeff M. (2005). Deliver us from Wal-Mart? Retrieved July 12, 2005, from the University of Phoenix Library EBSCOhost database.
Monday, May 27, 2019
Kant’s Categorical Imperative
Im homosexualuel Kant was a German philosopher during the Age of Enlightenment in Europe in the mid to late 18th century. Immanuel Kant advanced the deontological theory with his theory the bland imperative. Deontology is the theory of duty or moral obligation. Performing that duty is the righteous act in itself, non the act leading to an expected or act extirpate. In other words, the end does not justify the message, but the means is an end unto itself.In his theory, Kant claimed that various actions are mor on the wholey untimely if they are discrepant with the status of a person as a free and rational being, and that, conversely, acts that further the status of batch as free and rational beings are morally right. (Categorical) Kant believed that to carry out morally right actions was an absolute duty. He believed there were two types of duty contingent duties which needed to be carried out only infra certain circumstances, and categorical duties which unceasingly needed to be carried out because they were based on the general nature of things. (Categorical) From these categorical duties, Kant created the categorical imperative.The categorical imperative is comprised of volt formulations. The scratch three were the most famousAct only according to that proverb whereby you can at the same time leave that it should become a universal law. Act in such a way that you treat humanity, whether in your own person or in the person of any other, always at the same time as an end and never simply as a means Therefore, every rational being moldiness so act as if he were through his maxim always a legislating member in the universal kingdom of ends. (Kant )The first two formulations will be discussed in this paper. The third formulation seems to merely combine the commands of the first two formulations.In order to understand the categorical imperative theory, the definition of a maxim must be understood. A maxim, according to Kant, is a principle or rule tha t an individual uses when making a decision to act. (Categorical) Morality and rational demands reelect to the maxims that motivate actions. (Categorical)The first formulation is the Formula of Universal Law. It holds that one should only act on a maxim that the agent is willing to hold as a universal law. Also, the law must not come into conflict with itself. (Categorical) In other words, if the rule or maxim cannot or should not hold up to everyone or if it contradicts itself in any situation, then(prenominal) it should not be acted upon. If the maxim is rational and not contradictory to itself, then the action should and, in some cases, must be taken. (Categorical) Kant divided this reference to the duty to act on maxims into perfect duty and imperfect duty. The perfect duty is to act only on maxims that do not result in logical contradictions when they are universalized. The imperfect duty is to act only on those maxims that the agent is willing to universalize. One cannot c reate a maxim for oneself that he or she will not apply to someone else.The game formulation is the Formula of the End in Itself. This formulation holds that one should submit other humans or rational beings as well as ones self as an end, never as a means. (Categorical) This is the opposite of the ends justifies the means theory. In this formulation, the means are considered an end. Therefore, the means cannot justify the ends. If it is wrong to lie, then it is wrong to lie whether the outcome from the lie is good or bad because the lie was the end in itself the morally wrong action that was taken. This means that a person must apply all maxims to others as he applies them to himself or else the maxims would be contradictory.There is a strong point made with both formulations, as well as a weakness. The strongest point in the first formulation is universality. It makes sense that one should regard to apply all rules and laws to others as they are applied to ones self. For exampl e, if I were expected by a local law to keep my dog on a leash, I would expect my neighbors to abide by that law also. Similarly, if I was allowed the freedom to have as many children as I wish, then I should not try to take that freedom from others. This applies to the sulfur formulation also. If other rational beings are to be treated as rational beings and not a means to my outcomes, then these rational beings should all hold these same freedoms that I do.In contrast, both formulations have a weakness. It is knockout to always judge actions, as they stand alone. It is wrong to murder. However, in self-defense, it may be necessary. If we view a self-defensive murder according to the categorical formulation, it is wrong to murder no matter the outcome, good or bad. just now what if killing an attacker was the only method of saving ones own life and perhaps, depending on the scenario, the lives of others? Then was it morally wrong to murder? Would the obligation to save others o verrule the principle that murder is wrong? What is the maxim to act on in this case? Too many contradictions and shaky situations can arise to dispute the formulation.The second formulation is easier to practice than the first. It is sensible to apply the same rules to ones self as to other human beings. However, because the first formulation requires that particular conditions not apply, it is more difficult to practice the first formulation.Nevertheless, the second formulation supports the first. If a maxim is contradictory, then it should not be used to make decisions. Also, as in the second formulation, if a person or action was used as a means and not an end, then it could not be rational or universal which would render it contradictory. So, one would be morally bound not to use such a maxim to make decisions by perfect and imperfect duty.In order for the second formulation to be true, the first formulation must exist. In the first formulation, it is explained that the maxim c annot be contradictory to itself and it must be willingly used universally. In the second formulation, if a person demands an end for himself, he must demand the same end for everyone else. Everyone has a moral obligation to seek the same ends for all mankind that he seeks for himself. For example, if a man seeks the freedom to marry whom he pleases, then he must seek that right for every other man out there, too. It would be morally wrong for him to choose another mans wife or a womans husband.Thus, if the first formulation which specifies universality and uniformity were not true, then the second formulation which expounds universality between human beings would not be true. Also, if the universality between rational beings was not true, then it would be contradictory to the first formulation which would then contradict itself and then neither would be true. So, it is conclusive that these formulations must work together to create the standard for moral duty.All in all, Kant was seek to theorize that actions were not bound morally by consequences or outcome. He was explaining that actions in themselves were good or bad no matter the outcome because people chose their actions by their sense of moral duty, not by the consequences of their actions.ReferencesCategorical Imperative Formulations. Wikipedia. Online Available at https//en.wikipedia.org/wiki/Categorical_imperativeThe_second_formulation Accessed 5 /12/2007.
Sunday, May 26, 2019
Explain The Benefits Of Actively Promoting Positive Aspects Of Behaviour
Explain the benefits of actively promoting autocratic aspects of behaviour. Positive behaviour is powerfully linked to respect for others and what is generally accepted as right-hand(a) behaviour tends to be centred on this. Positive behaviour is about learning self-control and consideration for the ask of others. The Social Learning Theory is based on the fact that children get out adopt the behaviour of the adults around them. In other words setting a good example is the first thing all adults should try to do in working with young children. If we deal aggressively with them they will respond in an aggressive way also.If we always remember to say please and thank you they are to a greater extent likely to do so and if we encourage and reward communion and caring they will accept this as positive behaviour. The Behaviourist Theory suggests that children will respond best to positive reinforcement, in other words rewards. The heed of adults is important to children and some lea rn that the only way to get attention is by exhibiting negative behaviour. The only time they feel noticed is when they are being chastised for unwanted behaviour. Their logic tells them that in repeating the unwanted behaviour they will get more attention.If we try to ignore negative behaviour (as far as is safe to do so) but reward positive behaviour then the child learns that more attention is gained through being good. This can be through with(p) by using sticker charts. only appropriate behaviour gets a sticker but never remove a sticker that has been earned for good behaviour as this is discouraging to the child. Praising a child for the positive behaviour is sometimes all that is needed to show that we have noticed and will reinforce their behaviour so it is important to do this frequently. Even a smile is enough in some cases.Self-Fulfilling Prophesy Theory is based upon the lieu the adult takes of a child. If a child is constantly told they are bad or naughty they often come to consider themselves as just that and resign them to becoming secret code better. If we have to discipline a child in any way the language we use must be chosen carefully so as not to label the child but to label the behaviour as unacceptable. Having a good, well organised routine will help children to feel more secure and the less stressed they are in a situation the more likely they are to exhibit positive behaviour.Setting clear boundaries and explaining them to the children also gives them a better understanding of what you expect. The children could contribute to this process by adding to lists of rules, thereby giving them ownership of what is appropriate and what is not. They are more likely to conform to boundaries if they understand what their peers draw unacceptable and the reasons why there is a need for boundaries. Being well organised will also mean that the children are constantly on delegate and not left without a meaningful activity to occupy them.Make them responsible for certain activities as this will give them a sense of involvement and ownership. batten down that there is plenty of supervision of activities so that any negative behaviour is nipped in the bud before it becomes an issue. In short be a positive role model, make use of positive reinforcement, be consistent, be well organised/planned, have clear boundaries and above all else be patient, understanding, attentive and alive(predicate) of the developmental stage of each child in your care.
Saturday, May 25, 2019
Vertical Unfired Pressure Vessel Components Engineering Essay
The Ameri crowd out Society of Mechanical Engineers was organized in 1880 as an educational and proficient society of mechanic utilize scientists. After old ages of development and public remark, the first edition of the rule, ASME Rules of Construction of Stationary Boilers and for Al down in the mouthable Working bosoms, was published in 1914 and officially choose in the spring of 1915. The first engrave regulations for military burden per convention block argona vessels, entitled Rules for the Construction of Unfired press watercrafts, followed in 1925. From this simple get downing the Code has now evolved into the pose 11 subsection papers, with multiple subdivisions, parts, subdivisions, and compulsory and non-mandatory appendices. Al closely all jam per structure block battlefield vessels apply in the procedure sedulousness in the United States argon knowing and constructed in conformity with surgical incision VIII Division 1. In this job, some general constructs standards related to ASME Code Section VIII atomic number 18 discussed. These include go outable strain, parts of off the hook(predicate)ty, joint energy and hale per whole of measurement of measurement discipline testing. The aim of this undertaking is to plan and analytic thinking Unfired upended Pressure watercraft base on ASME Code Section VIII Division 1 and criterions. This undertaking scarce concerned to plan primary(prenominal) portion of surprise per social whole neighborhood vessel like epidermis, headways, searchs and contains. The regulations in Section VIII Division 1 do non c over all applications and constellations such(prenominal)(prenominal) as planing wooden leg actualizes. When the regulations atomic number 18 non available, another method moldiness be used.Problem statementThe cart per building block sphere watercrafts that non follow whatsoever standard codifications send packing be really unsafe. In fact many fatal ac cidents crap occurred in the history of their military operation and development. They are many criterions and codifications that vary from state to state. The common criterions and codifications that have been used are ASME Boilers and Pressure Vessel Codes, API Standards, PD5500, British Standards, European Codes and Standards and other International Codes. Even though there are computing machine assisted repel per whole country vas fig available in the market, but due to concern benefit, the system may non be salable or pricey. In add on the expression and constructs applied in the system are ever unknown by the users.Research rangeThis undertaking focuses on awayise and analysis of Unfired Vertical Pressure Vessel based on ASME Code Section VIII Division 1. Based on this codification, force per unit of measurement sphere of influence vass are application for the containment of upcountry and outer force per unit empyrean up to 3000 pounds per square off inch. Thi s force per unit area could be obtained from an outdoor(a) beginning or by the application of kindle from a direct or indirect beginning or any combination of them. The ASME Code is building codification for force per unit area vas and contains makes, specific prohibitions and non-mandatory counsel for force per unit area vas barricades, forge, welding and proving. To guarantee the aim of this undertaking is achieved, some of the of import elements essential be consider. on that depict isPlaning chief constituents of Unfired Vertical Pressure Vessel by refer to ASME Code Section VIII Division 1 and criterions.Analysis of maximum stress tax of chief constituents of force per unit area vas by finite component utilizing ANSYS package.Aims of UndertakingThe intent of this undertaking is to plan and analysis of Vertical Unfired Pressure Vessel based on ASME Code Section VIII Division 1. This research worker points two aims to be achieved at the terminal of this research. The ai ms are1. To plan Vertical Unfired Pressure Vessel constituents based on ASME Code VIII Division 1 and Standards.2. To analyse supreme equal dialect ( von-Misses ) , maximal surcharge accent, maximal spin and safety device performer in lambaste by finite component utilizing ANSYS package.Significance of surveiesThe undertaking entrust convey a great important non merely for the fertiliser industry but likewise to the all the fabrication sector that used a assorted force per unit area vas for casual operation. Nowadays, most the fabrication industry in Malaysia which used force per unit area vas for operational intent depends on their country of application. As a consequence, their operation, chassis, industry is regulated by engineering science governments backed up by Torahs. All force per unit area vass are manufactured with the maximal safe operating force per unit area and temperature. By finishing this undertaking, pupil leave derive exposure to the ASME codificati on and criterions.Chapter 2.0LITERATURE REVIEW2.1 IntroductionThe force per unit area vass such as cylinder, grapevine or arto a greater extentd fight vehicles are throw and concept to hive away gas or fluids under force per unit area. The gas or fluid that being stored may be through readjustment of province deep down the force per unit area vas, for illustration pattern of steam boilers or it might unite with other reagents, such as a chemical works. The force per unit area vass must plan with a perfect attention because cleft of force per unit area vass will do an detonation which may do of decease and loss of be enormousings. The stuff that be used to build force per unit area vass may be malleable such as mild steel or brittle such that dramatis personae Fe. In by and monumental, force per unit area vass and others storage ar mored combat vehicle such as hydraulic cylinders, gun barrels, pipes, boilers and armored combat vehicles are of import to the chemical, crude oil, p etrochemical, atomic industries and so on. Chemical reactions, separations, and storage of natural stuffs ever occur in this category of equipment. By and large, pressurized equipment is required and been used for a wide scope of industrial works for storage and fabrication intents 1 .2.2 eccentrics of Pressure VesselThe size and geometric signifier of force per unit area vass diverge greatly from the big cylindrical vass used for high-pressure gas storage to the little size used as hydraulic units for aircraft. Some of the vass are buried in the land or deep in the ocean, but most are positioned on land or supported in platforms. on that point are chiefly two types of force per unit area vass habitually available in industrySpherical Pressure VesselThis type of force per unit area vass are known as thin walled vass. This forms the most typical application of plane emphasis. Airplane of emphasis is a category of common technology jobs affecting emphasis in a thin home base. Sph erical vass have the advantage of necessitating dilutant walls for a given force per unit area and diam than the tantamount cylinder. in that locationfore they are used for big gas or liquid containers, gas-cooled atomic reactors, containment edifices for atomic works, and so on.Degree centigrades Userszalie87Desktopspherical force per unit area vas 2.jpgFigure 2.1 Spherical Pressure Vessel beginning hypertext transfer protocol //communities.ptc.com/thread/39900 Cylindrical Pressure VesselThis type of a vas knowing with a fixed rundle and burdensomeness subjected to an internal pot force per unit area. This vas has an axial symmetricalness. The cylindrical vass are by and large preferred, since they present simpler fabrication jobs and do infract usage of the available infinite. Boiler membranophone, heat money changers, chemical reactors, and so on, are by and large cylindrical.A C Userszalie87Desktoppressure-vessel-500500.jpg C Userszalie87Desktopvertical_expansion_tank.gif Figure.2 Cylindrical ( Horizontal & A Vertical ) Pressure Vessel beginning hypertext transfer protocol //www.energyflowsystems.com/pv.htm and hypertext transfer protocol //www.pumpsukltd.com 2.3 Main Components of Pressure VesselThe chief force per unit area vas constituents are as follow2.3.1 ShellThe caseful is the chief constituent of any vass that contains the force per unit area. genuine of shoot unremarkably come in home base or rolled steel. Commonly, some force per unit area vas cases has a rotational axis vertebra and be welded together to organize a construction. Most pressure vas whips are cylindrical, spherical, or conelike in form.2.3.2 transmitAll force per unit area vas dumbfounds must be closed at the terminals by caputs. Heads that normally used are typically in curved instead than level. Configurations of curving form stronger and allow the force per unit area vas s caputs to be thinner, lighter and less(prenominal) expensive instead than level caputs. privileged a vas, caputs can withal be used.Heads are normally can be categorized by their forms. roundedal, hemispherical, torispherical, conelike, toriconical and level are the common types of caputs. Figure 2.3 shows assorted types of caputs. Ellipsoidal would be the most common type of caputs, which is used during the seeing of a new force per unit area vas. 11 Figure 2.3 Typical Types of Heads beginning 11 2.3.3 NozzlesA nose is a cylindrical constituent that penetrates and mounts whether at the shell or caputs of a force per unit area vas surface. The nozzle terminals are by and large flanged. Flanges map is to permit the necessary connexions. Flanges excessively use to allow easy disassembly for modus operandis care or easy entree. Nozzles normally are used for the following(prenominal) applications 11 Attach piping for flow recess or mercantile establishment of the vas.Attach instrument connexions such as degree gages, thermowells, or force per unit area gages.Provi de entree to the vas inside at manholes.Provide for direct fond regard of heat money changer or sociable.Nozzles sometimes extended into the vas inside for some applications, such as for recess flow distribution or to allow the entry of thermowells.2.3.4 SupportThe type of support that is physical bodyed and used depends on the orientation of the force per unit area vessel whether horizontally or vertically. In any state of affairs, the force per unit area vessel support must be adequate to back up the applied weight and other tonss. plan force per unit area of the vas is non being considered in the figure of speech of its support because the support is non be pressurized. But, design temperature should be considered for support design. It should be considered from the position of stuff choice and planning for differential thermic enlargement.Several sorts of supports are as follow 11 SkirtThis type of support by and large been used for tall, perpendicular, cylindrical force p er unit area vass. This type of support is a cylindrical shell subdivision which is be weld either to the underside of the vas shell or to the bottom caput for the cylindrical vass. Skirt support for spherical vas is welded to the vas near the mid plane of the shell. The skirt is usually design long softwood to supply flexibleness so that radial thermic enlargement of the shell does non do high thermic emphasiss at its junction with the skirt. leg diminished perpendicular membranophones are usually supported by legs that are welded to the underside of the force per unit area shell. The maximal ratio of support provides for leg space to beat diameter is typically 21. The figure of legs is intentional depends on the membranophone size and the tonss to be carried. Support legs are besides normally designed for spherical force per unit area vass. The support legs for little perpendicular vass and spherical storage vass usually made from high C stuff such as structural steel columns o r pipe subdivisions, which provides a more efficient and perfect design.SaddleHorizontal membranophones are usually supported by saddle. This type of support divides the weight burden over a big country of the shell to avoid an unneeded emphasis in the shell at two different sides. The breadth of the saddle is considered by the specific size and design conditions of the force per unit area vas. One saddle support is usually fixed or anchored to its foundation. A typical strategy of saddle support is shown on Figure 2.2.4.Figure 2.4 Typical Scheme of Saddle beginning 11 2.4 Overall Design Procedure of Pressure VesselsPressure vass as constituents of a cut works are designed to run into assorted demands as determined by the interior decorators and analysts responsible for the overall design. The first measure in the design process is to choose the necessary applicable information, set uping in this manner a organic structure of design demands, as shown in Figure 2.5. Once the des ign demands have been established, suit stuffs are selected and the specified design codification will give an permissible design or nominal emphasis that is used to dimension the chief force per unit area vas onerousness. Extra codification regulations cover the design of assorted vessel constituents such as noses, rims, and so on. hobby these regulations an agreement of the assorted constituents are finalized and analyzed for misadventure. Most of the types of failure relevant to coerce vessel design are stress dependent and therefore it is necessary to guarantee the adequateness of the emphasis distribution and look into against different types of postulated failure manners. The proposed design is eventually iterated until the most economical and dependable merchandise is obtained. The functional demands cover the geometrical design parametric quantities such as size and form, location of the incursions, and so on. Some of these parametric quantities may hold to be fixed in c oaction with the overall design squad, but in a lot of state of affairss the force per unit area vas interior decorator acts freely on the footing of his or her experience. In the process in planing force per unit area vass, safety is the chief factor that must be consider, particularly for the high force per unit area works such as atomic reactor force per unit area vass, due the possible impact of a possible terrible accident. In general nevertheless, the design is a via media between consideration of economic sciences and safety. The possible hazards of a given manner of failure and its personal effects are balanced against the attempt required for its bar. The turn up design should accomplish an equal criterion of safety at minimal cost. Safety can non be perfectly assured for these two grounds.First, the existent signifier of committal during service may be more terrible than was anticipate at the design phase unnatural, unpredictable tonss necessarily occur during the forc e per unit area vas s life-time. Second, our cognition is rarely equal to supply a qualified reply to the break of stuffs, province of emphasis under certain conditions, and so on. It is true that although the cardinal mechanism of failure is non sufficiently understood, it is possible to set up preventative steps based on semi empirical methods. Following this line of thought, the force per unit area vass could be classified harmonizing to the badness of their operations since this will impact both the possibility of failure and its effects. These considerations lead to the miscellanea of vass runing from atomic reactor force per unit area vass at one terminal to down the stairsground H2O armored combat vehicles at the other. The design factor used in the ASME Boiler and Pressure Vessel Code1 is intended to account for unknown factors associated with the design and building of the equipment. The design expression and the emphasis analysis methods are by and large approximative an d have constitutional premises. Typically it is assumed that the stuff is homogenous and isotropic. In the existent universe the stuff has defects and discontinuities, which tend to frisk from this premise.Figure 2.5 Design ProcedureChapter 3.0Methodology3.1 OverviewIn this chapter, the information in choice of force per unit area vas is depict and the application of selected force per unit area vas is been discussed. To plan of force per unit area vessel the choice of Code are of import as a character reference usher to accomplish the firm force per unit area vas. The choices of ASME Code Section VIII div 1 are described. The criterion of stuff choice used are explains in this chapter. Beside of that, the design and analysis package to obtain the consequence are introduced. Alternatively of that, design procedure methodological analysis is besides described.3.2 General Design Considerations Pressure Vessels3.2.1 MaterialsGeneral stuff demand have been described in paragraphs UG -4 through UG-15. There are some points that must be considered which is related to the general stuff demands that will be discussed below. 2 The chief factors of stuff choice that must be considered are 12 StrengthStrength is a stuff s ability to digest an imposed force or emphasis applied. Strength is an of import factor in the stuff choice for any peculiar application.Strength determines the midst of a constituent that must be to defy the forced tonss.Corrosion ResistanceCorrosion defines as the weakening of stuff by chemical reaction. Material s opposition to corrosion is the most of import factor that influences its choice for a specific application.Stipulate a corrosion allowance is the common method that used to specify corrosion in force per unit area vass constituents.Fracture StaminaFracture stamina defines as the capableness of a stuff to defy conditions that could do a brickle break. The break stamina of a stuff can be determined by utilizing Charpy V-notch trial to s pecify the magnitude of the impact energy and force that is required to fracture a specimen.FabricabilityFabricability defines as the easiness of building and to any particular fiction patterns that are required to utilize the stuff.Normally, force per unit area vass use welded building. The stuffs used must be weldable so that constituents can be assembled onto the accomplished force per unit area vas.The force per unit area vas design codifications and criterions include lists of acceptable stuffs in conformity with the grant stuff criterions.3.2.2 Design and Operating TemperatureIn ASME Code Section VIII Div 1, upper do and minimal design temperatures can be established in split UG-20. The maximal design temperature can be define as the maximal temperature used in vessel design and it shall non be lesser than the average admixture temperature estimated under normal operating conditions for the portion that want to be considered. 3 The operating temperature is the gas or uns table temperature that occurs under the normal operating conditions. in the beginning planing a vas, the operating temperature must be set based on the upper limit and minimal metal temperatures that the force per unit area vas may meet any state of affairs. 4 3.2.3 Design and Operating PressureDesign force per unit area of the vas can be established in Paragraph UG-21. In this paragraph, the demand of the vas to be designed for any terrible force per unit area and temperature that is coincidently expected in normal operation has been provided. When set up the maximal operating force per unit area, all conditions such as start-up, closure, and any identified disquieted conditions can be considered. Set force per unit area of the force per unit area alleviation device in an operating system must be higher up the operating force per unit area by a sufficient sum so that the device does non trip by chance. A vas must be designed to defy the maximal force per unit area to which it is likely to be subjected in operation positioning. Before planing a vas, the operating force per unit area must be set based on the maximal internal or external force per unit area that the force per unit area vas may meet.The design force per unit area is usually taken as the force per unit area at which the alleviation device is set for vas that under internal force per unit area. To avoid specious operation during minor procedure disturbances, usually the operation force per unit area is 5 to 10 per cent above the normal on the job force per unit area. The hydrostatic force per unit area in the base of the column should be added to the operating force per unit area if make up ones minding the design force per unit area. 2 3.2.4 Design upper limit Allowable StressMaximum permissible emphasis that have to be consider in planing a vas which be used for internal and external force per unit area has be describe in Paragraph UG-23. The allowable fictile emphasiss are tabulated in ASM E Code Section II, Part D of the Boiler and Pressure Vessel Code. In UG-23 ( a ) indicates that for stuff that has been identified as meeting more than one stuff precondition, the allowable emphasis for the specification may be used and provided that all the restrictions of the specification is satisfied. In UG-23, standard for the maximal allowable longitudinal compressive emphasis to be used for cylindrical shells that are subjected to longitudinal compressive tonss besides have been provided. The first status is that the maximal allowable longitudinal compressive emphasis can non be greater than the maximal allowable tensile emphasis. The 2nd status is based on buckling of the constituent. In Paragraph UG-23 ( degree Celsius ) , the wall thickness of a force per unit area vas shell defined by these regulations and it should be determined and the induced maximal membrane emphasis does non transcend the maximal allowable emphasis cheer in focus has been stated. 2 Typical design emphasis factors for force per unit area constituents are shown in accede 3.1.Table 3.1 Design emphasis factorsPropertyMaterialCarbonCarbon-manganese, unstained metalslow metal steelsAustenitic chromium steel steelsNon-ferrousmetalsMinimal outputemphasis or 0.2 per centum cogent evidence emphasis, at the design temperature1.51.51.5Minimum tensile strength, at room temperature2.352.54.0Mean emphasis togreen goods ruptureat 105 H at thedesign temperature1.51.51.03.2.5 Thickness of shell under internal force per unit areaInformation and demand of thickness or maximal allowable force per unit area for a shell under internal force per unit area are provided in paragraph UG-27. The equations for circumferential emphasis which is the emphasis pitiable across the longitudinal seam for cylindrical shell are as follows 1 or ( 3.2.5.1 )Figure 3.1 Shell Under inner PressureFor cylindrical shells for longitudinal emphasis which the emphasis moving across the circumferential articulations, t he equations areor ( 3.2.5.2 )T = land limit needed thickness of shell, in. ( in the corroded status )P = internal design force per unit area, pounds per square inchR = inside radius of shell under consideration, in. ( Corroded status )S = maximal allowable emphasis from the applicable allowable emphasis tabular array in Section II, Part DE = Joint efficiency for welded articulations ( Table UW-12 ) , or the ligament efficiency between chess openings ( UG-53 ) .For spherical shells,or ( 3.2.5.3 )These equations are really simple. However, there are some related issues that must be discussed. These two equations are usually based on thin wall theory.3.2.6 Thickness of shell under external force per unit areaThe information and demand that used to plan shells and tubings under external force per unit area is given as a design burden is given in paragraph UG-28. The definitions for assorted geometries are diagrammatically shown in Figure 3.2.a ( Fig.UG-28.1 ) . 2 Figure 3.2.a Diagra mmatic Representation of Lines of Support for Design of Cylindrical Vessels Subjected To External Pressure ( Beginning Fig. UG-28.1 of Section VIII Div. 1 of the ASME 2010 Code )Figure 3.2.b Maximal Arc of Shell Left Unsupported Because of Gap in Stiffening Ring of Cylindrical-Shell under External Pressure ( Beginning Fig.UG-29.2 of Section VIII Div.1 of the ASME 2010 Code )Stiffness ring that has been provided with uninterrupted around the perimeter of the vas is to defy external force per unit area. Between the ring and the shell, spreads have been allowed nevertheless, the ring has to be uninterrupted and the discharge of the spread is limited by Figure 3.2.b. The unornamented demands of UG-29 ( degree Celsius ) ( 1 ) through UG-29 ( degree Celsius ) ( 4 ) should be satisfy when the discharge of the spread between the ring and shell does non run into the Figure 3.2.b demands. 2 3.2.7 Formed HeadsInformation and regulations for the design of form caputs are given in paragraph U G-32. The needed thickness of spheroidal caputs expression is given byor ( 3.2.7.1 )D = diameter of the oval major axisFigure 3.3 Ellipsoid caput ( Beginning 7 )Other expressions to plan caputs are as given in UG-27.Ellipsoidal caputs has a ratio of 21 if at that aspire does non hold a major to minor diameter. The torispherical caput with the metacarpophalangeal joint radius requires a thickness for a equal to 6 % of the inside Crown radius and the inside crown radius equal to the outside diameter of the is given by 7 or ( 3.2.7.2 )Where L = inside crown radius of the formed caputFigure 3.4 Torispherical caput ( Beginning 7 )3.2.8 Openings and SupportsWhen planing an gap in a force per unit area vas, there is a stress ensuing from the hole that is formed on the shell. This is similar to the classical emphasis concentration consequence of a hole in a home base that is mischievous in grip. The codifications for support do non see loads other than force per unit area. Openings in sh ells should be round, egg-shaped, or obround. If the connexion is slanting to the surface of the shell, the egg-shaped gap in the shell will be used. The proof trial in Paragraph UG-101should is applied if the strength of vass with such gaps can non be determined. 2 There is no bound to the size of an gap that may be designed on a force per unit area vas. The gap and support regulations in paragraph UG-36 through UG-43 stated in ASME Code will be apply to gaps non transcending the undermentioned vas size. For illustration, vass of 60 inches inside diameter and less, the gap may be every bit big as one half the vas diameters, but non to transcend 20 inches. Then, for vass over 60 inches inside diameter, the gap may be every bit big as one third the vas diameter, but non to transcend 40 inches. 2 Design for Internal PressureThe entire transverse sectional or country of support A in any plane through the gap for a shell or caput under internal force per unit area that has been requi red shall be non less thanA = dtrF + 2tn thyrotropin-releasing hormone ( 1 a? fr1 ) ( 3.2.8.1 )Design for External Pressure( 1 ) The support that capable to force per unit area ( external ) must be considered for gaps in individual walled vass must merely 50 % of that required in design for internal force per unit area, where tr is the wall thickness required by the regulations for vass under external force per unit area and the place of F shall be 1.0 in all external force per unit area support computations. 2 ( 2 ) The support required for gaps in each shell of a multiple walled vas shall follow with above information when the shell is capable to force per unit area ( external ) and with design for force per unit area ( internal ) above when the shell is capable to internal force per unit area, no affair there is a common nose secured to more than one shell by strength dyers rockets. 2 3.2.9 NozzlesThe lower limit wall thickness of nozzle cervixs should be determined as given e xpression below. For entree gaps and gaps used merely for review 2 tUG-45 = Ta ( 3.2.9.1 )For other nosesDetermine terbium.terbium = min tb3, soap ( tb1, tb2 ) ( 3.2.9.2 )tUG-45 = soap ( Ta, terbium ) ( 3.2.9.3 )whereTa = lower limit cervix thickness required for internal and external force per unit area utilizing UG-27 and UG- 28 ( plus corrosion allowance ) , as applicable. The effects of external forces and minutes from auxiliary tonss ( see UG-22 ) shall be considered. Shear emphasiss caused by UG-22 burdens shall non transcend 70 % of the allowable tensile emphasis for the nozzle stuff.tb1 = for vass under internal force per unit area, the thickness ( plus corrosion allowance ) required for force per unit area ( presuming E p 1.0 ) for the shell or caput at the location where the nozzle cervix or other connexion attaches to the vas but in no instance less than the minimal thickness specified for the stuff in UG-16 ( B ) .tb2 = for vass under external force per unit area, th e thickness ( plus corrosion allowance ) obtained by utilizing the external design force per unit area as an tantamount internal design force per unit area ( presuming E p 1.0 ) in the expression for the shell or caput at the location where the nozzle cervix or other connexion attaches to the vas but in no instance less than the minimal thickness specified for the stuff in UG-16 ( B ) .tb3 = the thickness given in Table UG-45 plus the thickness added for corrosion allowance.tUG-45 = lower limit wall thickness of nose cervixsIn Paragraph UG-45, the regulations for minimal nozzle cervix thickness have been provided. A nozzle cervix or any other connexion shall non be thinner than that required to fulfill the thickness demands for the tonss defined in paragraph UG-22. Except for manhole and other gaps that are provided merely for entree, extra demands of paragraph UG-45 may necessitate a thicker nose cervix. 2 3.2.10 Legs supportLegs supports usually are used to back up perpendicular force per unit area vas. Legs support can be made detachable from the vas. These supports can be bolted or welded to blast home bases. Leg supports design method is similar to that for sustain support. If the legs are welded to the shell, so the shear emphasiss in the dyers rocket will be given by 2 ( 3.2.10.1 )Where, tW = Weld HeightLW = Weld length.These sorts of supports are meet merely for little and moderate force per unit area vass as there is a concentrated local emphasis at the joint.Figure 3.5 Leg Support3.2.11 Joint Efficiency calculatesThe strength of a welded articulation will depend on the type of articulation and the quality of the welding. The soundness of dyers rockets is checked by optical review and by non-destructive testing ( skiagraphy ) . The possible lower strength of a welded articulation compared with the virgin home base is normally allowed for in design by multiplying the allowable design emphasis for the stuff by a welded articulation factor J. T he value of the joint factor used in design will depend on the type of joint and sum of skiagraphy required by the design codification. Typical values are shown in Table 3. Taking the factor as 1.0 implies that the joint is every bit every bit strong as the virgin home base this is achieved by radiographing the complete dyers rocket length, and cutting out and refashioning any defects. The usage of lower joint factors in design, though salvaging costs on skiagraphy, will ensue in a thicker, heavier, vas, and the interior decorator must equilibrate any cost nest eggs on review and fiction against the increased cost of stuffs. 2 Table.2 Maximum allowable articulation efficiencyType of articulationDegree of skiagraphy100 %topographic pointnoneDouble-welded knock againstor equivalent1.00.850.7Single-weld buttarticulation with adhering strips0.90.800.65In ASME Code Section VIII Division 1, joint efficiency factors influence the degree of scrutiny of articulations on force per unit are a vas. The grade of scrutiny influences the needed thickness through the usage of Joint Efficiency Factors, E. This factor is sometimes referred to as Quality Factors or weld efficiencies lot as emphasis multipliers applied to vessel constituents when some of the articulations are non to the full radiographed. Basically, ASME Code Section VIII Division 1 vass have variable factors of safety and it depending on the radiographic scrutiny of the chief vas constituents articulations. For this undertaking, to the full radiographed longitudinal butt-well articulations in cylindrical shell use a Joint Efficiency Factor, E of 1.0. There are four joint classs require that have been identified in ASME Code Section VIII Division 1. They are classs A, B, C and D as shown in figure below. 2 Figure 3.6 Welded Joint Categories ( Beginning 2010 ASME VIII Div1 )3.2.12 Corrosion allowanceThe corrosion allowance is the extra thickness of metal added to let for stuff lost by corrosion and eroding, or scaling. The allowance to be used should be agreed between the client and maker. Corrosion is a entangled phenomenon, and it is non possible to give specific regulations for the appraisal of the corrosion allowance required for all fortunes. The allowance should be based on experience with the stuff of building under similar service conditions to those for the proposed design. For C and low-alloy steels, where terrible corrosion is non expected, a minimal allowance of 2.0 mms should be used where more terrible conditions are anticipated this should be increased to 4.0 mms. Most of design codifications and criterions available stipulate a minimal allowance of 1.0 mm. 2 3.3 Finite Element Analysis by ANSYSThis undertaking is set out to verify finite component analysis, FEA when applied to coerce vessel design. Finite Element Analysis is a simulation technique. Function of this technique is to measure the behaviour of constituents, equipment and constructions for assorted lading conditions including applied forces, force per unit areas and temperatures. There are many complex technology jobs with non-standard form and geometry can be solved utilizing this analysis 5 . Consequences that can be achieve by this analysis such as the emphasis distribution, supplantings and reaction tonss at supports for any speculative account. There are figure of scenarios can be done such as design optimisation, material weight minimisation, form optimisation, codification conformity and more by utilizing this analysis 10 . The finite elements analysis was performed utilizing ANSYS package. ANSYS widely used in the computer-aided technology ( CAE ) field in many industries 10 . ANSYS package helps applied scientists and interior decorators to build computing machine theoretical accounts of constructions, machine constituents or systems by using runing tonss and other design standards and to analyze physical responses such as emphasis degrees, temperature distributions, force per unit area and more. It permits an rating of a design without holding to construct and destruct multiple paradigms in proving. In this undertaking, the analysis will be test on cylindrical shell of the unfired perpendicular force per unit area vas to see the maximal whirl, maximal tantamount ( von-Misses ) and maximal shear emphasis of the shell s stuff.Figure 3.1 Example of ANSYS analysis Maximum shear emphasis of Elliptical Head beginning 1 .Chapter 4.0RESULT AND ANALYSIS4.1 Design Data and CalculationTable 4.1 Pressure Vessel Design DataDesign codification ASME Section VIII Division 1Type of vas VerticalInside diameter 1300.0 millimeterTemperatureDesign 70.0 ACOperating 30.0 ACPressureDesign 44 BarGOperating 24.9 BarGCorrosion allowance 3 millimeterType of fluid Natural gasMax. Liquid degree Not applicableRadiography Full moonJoint efficiency 1.0Type of caput 21 EllipsoidalWeightEmpties 4791 kilogramOperating 4850 kilogram ( approximate )4.1.1 MaterialFor choosing s tuff for building these force per unit area vas constituents, there are several regulations should be see that available in paragraphs UG-4 through UG-15. For this undertaking, stuff that will be usage is in C and low metal steel s category which is SA-516-70. This type of stuff has been taking based on design force per unit area and design temperature because it is suited for moderate and lower temperature service applications. 2 4.1.1.1 Properties of MaterialTable 4.2 Properties of MaterialMaterialSA-516 Gr 70FormHome plateCompositionC-Mn-SiTensile strength552 MPaOutput point260 MPaDensity7.85 g/cm3Melting Point1510 AC ( 2750 AF )4.1.2 Design PressureRefer to ASME codification in paragraph UG 21, the design force per unit area is a force per unit area that is used to plan a force per unit area incorporating system or piece of equipment. With the design force per unit area, it is recommended for applied scientist to plan a vas and its constituents. Design force per unit area must 5-10 % higher than operating force per unit area, whichever is the higher, will carry through this demand. The force per unit area of the fluid and other contents of the force per unit area vas are besides considered. For this undertaking, design force per unit area is 44.0 BarG. 2 4.1.3 Operating PressureOperating force per unit area is a force per unit area that less than the maximal allowable on the job force per unit area at which the force per unit area vas is usually operated. Recommended value is 30 % below maximal allowable on the job force per unit area. 2 4.1.4 Maximum Allowable Stress ValueRefer to ASME codification in paragraph UG 23, the maximal allowable emphasis value that the maximal emphasis allowed in stuff that used to plan force per unit area vas constituents under this regulations. The allowable emphasis value for most stuff at design temperature is the lower 2/7 the minimal effectual tensile strength or 2/3 the minimal output emphasis of the stuff. For this u ndertaking, the allowable emphasis value is obtained from tabular array in ASME Code Section II Part D. Below is allowable emphasis value that simplified from the tabular array in subdivision II, Part D. 2 MaterialMetal temperature non transcending deg, FMaximum Allowable Stress, pounds per square inchSA-516 Gr 70-20 to 65017500Table 4.3 Maximal Allowable Stress Value4.1.5 Thickness of Shells under Internal PressureT = PR per UG 27 ( degree Celsius )( SE- 0.6P )= ( 44 x 105 ) ( 653 millimeter )( 1206.58 Bar ) 0.6 ( 44 Bar )= 24.35 millimeter24.35 millimeter + corrosion allowance, 3 millimeter = 27.35 millimeterSo, usage T = 28 millimeterMaximal Allowance Working Pressure, MAWPP = SEt per UG 27 ( degree Celsius )R + 0.6t= ( 1206.58 x 105 ) ( 1 ) ( 28 millimeter )650 millimeter + 0.6 ( 28 millimeter )= 51.98 BarroomsStress, I?hoop = P ( R + 0.6t )Et= ( 4.4 x 106 ) ( 0.650m + 0.6 ( 0.028 m )( 1 ) 0.028 m= 105.25MPaStress, I?long = P ( R 0.4t )2Et= ( 4.4 x 106 ) ( 0.650 m 0.4 ( 0.0 28 m )( 2 ) 0.028 m= 50.19 MPaFactor of safety = I?yieldI?hoop= 120.658 Mpa105.25 MPa= 1.144.1.6 21 Ellipsoidal Head thicknessT = PD per UG 27 ( vitamin D )( 2SE-0.2P )= ( 44 x 105 ) ( 1303 millimeter )2 ( 1206.58 x 105 ) ( 1 ) 0.2 ( 44 x 105 )= 23.85 millimeter23.85 millimeter + corrosion allowance, 3 millimeter = 26.85 millimeterSo, usage T = 28 millimeterH = D4= 13004= 325 millimeterMaximal Allowance Working Pressure, MAWPP = 2SEt per UG 27 ( vitamin D )D + 0.2t= 2 ( 1206.58 x 105 ) ( 1 ) ( 23.85 millimeter )1303 millimeter + 0.2 ( 23.85 millimeter )= 44 BarroomsStress, I? = P ( D + 0.2t )2 T= ( 4.4 x 106 ) ( 1.303 m + 0.2 ( 0.024 m )2 ( 1 ) ( 0.024 m )= 119.88 MPa4.1.7 21 Nozzle and Flanges4.1.7.1 ( Inlet and Outlet )T = PR per UG 45( SE- 0.6P )= ( 44 x 105 ) ( 152.4 millimeter )( 1206.58 x 105 ) 0.6 ( 44 x 105 )= 5.68 millimeters 6 millimeter6 millimeter + corrosion allowance, 3 millimeter = 9 millimeterSo, usage T = 9 millimeterLength of pipe 12 = 211.85 millimeterFlangesB ased on slip-on Flanges ANSI B16.5 300lbsTable 4.4 put on Flanges ANSI B16.5 300lbs for 12 InchNominal pipe sizeOutside diameterOveral diameterInside diameterFlanges thicknessOverall lengthHub diameter side of meat diameterNo.of holesBolt holeDiameter of circle of holes12 323.8520.7327.150.8073.15374.6381.01631.70450.84.1.7.2 ( Manhole )T = PR per UG 45( SE- 0.6P )= ( 44 x 105 ) ( 254 millimeter )( 1206.58 x 105 ) 0.6 ( 44 x 105 )= 9.47 millimeters 9.5 millimeter9.5 millimeter + corrosion allowance, 3 millimeter = 12.5 millimeterSo, usage T = 12.5 millimeterLength of pipe 20 = 252 millimeterFlangesBased on slip-on Flanges ANSI B16.5 300lbsNominal pipe sizeOutside diameterOveral diameterInside diameterFlanges thicknessOverall lengthHub diameterFace diameterNo.of holesBolt holeDiameter of circle of holes20 508774.7513.163.5095.20587.2584.22435685.8Table 4.5 slip on Flanges ANSI B16.5 300lbs for 20 Inch4.1.7.3 ( Liquide Outlet )T = PR per UG 45( SE- 0.6P )= ( 44 x 105 ) ( 25.4 millimeter )( 1206.58 x 105 ) 0.6 ( 44 x 105 )= 0.95 millimeters 1 millimeter1 millimeter + corrosion allowance, 3 millimeter = 4 millimeterSo, usage T = 4 millimeterLength of pipe 20 = 271.8 millimeterFlangesBased on slip-on Flanges ANSI B16.5 300lbsNominal pipe sizeOutside diameterOveral diameterInside diameterFlanges thicknessOverall lengthHub diameterFace diameterNo.of holesBolt holeDiameter of circle of holes2 60.3165.16222.3033.208491.90819.10127.0Table 4.6 assume Flanges ANSI B16.5 300lbs for 2 Inch4.1.8 Leg supportFor planing leg support, there are no specific regulations or codifications that describes in ASME Code Section VIII Div 1. So, in this undertaking, the leg supports was designed based on available support that be designed for knock out membranophone by Petronas Fertilizer Sdn. Bhd.4.2 Detailss pulling by CatiaFigure 4.1 Unfired Vertical Pressure Vessel Please mention Appendix 1 Figure 4.2 Shell Please mention Appendix 2 Figure 4.3 Top Ellipsoidal HeadFigure 4.4 Bottom Ellipsoidal Head Please mention Appendix 3 & A 4 Figure 4.5 Leg Support Please mention Appendix 5 4.3 Inactive Structural Analysis Result and DiscussionFrom the finite component analysis for all burden instances by inactive structural analysis utilizing ANSYS package, there are consequences are obtained.4.3.1 Inactive Structural Analysis of Shell with NozzlesDegree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.6a Entire Deformation of Shell with NozzlesThe figure above shown the entire distortion of the shell with nozzle attached. From the consequences of analysis, it was observed that the maximal distortion occurred at the junction of force per unit area vas s shell and the nose. The maximal distortion was 0.52119 millimeter.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.6b Equivalent ( von-Mises ) StressBased on figure above, the maximal emphasiss occurred at the nozzle cervix. The maximal emphasis value obtained is 141.2 8 MPa. The maximal tantamount emphasis obtained from the analysis was big than maximal allowable emphasis because of affiliated nose cervix due to sudden alteration in the shell geometry and the resulting of alteration in emphasis flow.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.6c Maximal Shear StressThe figure above represented the maximal shear emphasis that occurs on the shell. There are twistss that represent the degree of emphasis that occur on the shell surface. The bluish colour indicate the country which the emphasis was lowest and the ruddy colour indicated the maximal emphasis occur while the force per unit area has been applied.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.6d Safety FactorFrom the analysis of shell with noses attached, the minimal value of factor safety obtained is 0.85406. Because of some deficiency, the value of safety factor is rather low compared to theoretical value. It is because the maxima l tantamount emphasis that been obtained was big than maximal allowable emphasis.4.3.2 Inactive Structural Analysis of Shell without NozzlesDegree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.7a Entire Deformation of Shell without NozzlesFor the analysis of shell without nose attached, the consequence has been shown above. Compared with the old analysis on shell with the noses, the value of maximal distortion is less which is merely 0.33246 millimeters.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.7b Equivalent ( von-Misses ) StressThe figure shown supra is the consequence of equivalent ( von-Misses ) emphasis that occurs on the shell surface at about design force per unit area of 4.4 MPa. The ruddy colour represents the maximal emphasis which is 116.67 MPa. The maximal emphasis occurs at the underside of the shell. The maximal allowable emphasis for this shell is 120.658 MPa. So, the value obtained in this analysis was below than ma ximal allowable emphasis. It can be said that this shell was safe.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.7c Maximal Shear StressBased on figure above, the maximal emphasiss occur on the surface indoors shell. The minimal shear emphasis occurs on the top shell surface 16.272 MPa and the maximal shear emphasis value obtained is 61.08 MPa which is represented with ruddy colour.Degree centigrades Userszalie87AppDataRoamingAnsysv140preview.pngFigure 4.7d Safety FactorFrom the analysis of shell without noses attached, the minimal value of factor safety obtained by computation is 1.14. The value of safety that obtained by this analysis is 1.03 because the maximal tantamount emphasis that be obtained is less than hoop emphasis in manual computation. So the per centum of factor safety between value from computation and analysis is approximately 9.6 % and it s acceptable.Chapter 5.0Summary5.1 DecisionAs the undertaking is completed, it can be concluded that the aims of this undertaking are successfully done. This undertaking had lead to several decisions. However, major decisions are as belowFrom overall survey of ASME Code Section VII Division 1 in planing perpendicular force per unit area vas, it be said that the chief demand that used to plan this type of vas was be studied decently. Because of some deficiency of information is ASME Code such as regulations for planing leg support, the constituent had been designed merely based on available designed that widely used in industry. This undertaking merely focused on design demands in ASME Code, so the regulation for fiction and review did non be involved.From the analysis of shell with affiliated nose, the maximal distortion of the shell has been obtained. The distortion value was below the allowable deforming for the shell stuff. Then, the maximal tantamount emphasis ( von-Misses ) besides has been obtained over the maximal allowable emphasis. This was because of the geometry of the s hell has been changed during nozzle attached. This job occurred besides because of the alteration is stress flow during the tonss has been applied. Because of over maximal tantamount emphasis obtained, the value safety factor had been affected. The value of safety factor obtained was less than 1 it might be non good plenty but it still can be considered.From the analysis of shell without nose, the maximal distortion is less than distortion in shell with affiliated nozzle analysis. Then, the value of maximal tantamount emphasis ( von-Misses ) obtained was less than maximal allowable emphasis. The value was approximated to the computation value at about 3.3 % . So, the value of safety factor obtained besides near to the computation value in term of maximal allowable emphasis per upper limit tantamount emphasis. Hence, the shell was in safe status when the operating force per unit area been applied.However, although the codification for design a force per unit area vas had been studie d decently, some of information was non described in inside informations. So, this design was non excessively safe and good plenty for fiction. Many demands still had to be considered to do this design perfect. There were many codifications and regulations should be studied and understood decently. By the manner, as been stated earlier, this undertaking has achieved the aims and fulfills the demand of Final Year Project II.5.2 RecommendationApparently, in term of design regulations, there are many facets to looking farther betterment to hold a complete and perfects perpendicular force per unit area vas. The design codifications and criterions must be suitably revised to do certain the design is safe plenty.Because of deficiency of information from the ASME Codes Section VIII Division 1 in planing this force per unit area vas, some of the standards required can non be applied. Some of the information in ASME Code is confidential and need to inquire for their permission before used i t. sometimes engineer, interior decorator or organisation demands to purchase their codifications and criterions which are really expensive.There are others codifications and criterion in planing force per unit area vas available. There besides has package to plan force per unit area in the market. Possibly by utilizing others codifications and criterion or package may better the process in planing force per unit area vas
Thursday, May 23, 2019
Nature vs. Nurture Essay
It is a matter of concern whether hu humanness airs and characteristics atomic number 18 compulsive by nature or nurture. If a individuals behavior is transmittable directly from the genes of his/her parents or other biological factors, then it is the nature that determines his character. that if the environment that a person grew up in, affects his behavior, then it is the nurture that determines his/her character. It became a broad matter of controversy among scientists, psychologists and sociologists. Previously, many people believed that human behavior was instinctive. It can neither be taught nor learned. moreover later some psychologists came to the conclusion that human behavior is learned through show up the lifetime which is not instinctive. I believe that it is the combination of twain nature and nurture that determine ones characteristics. Nature plainly or nurture only cannot be the determine factors for ones behavior and characteristic. A persons behavior is de termined by the touch on blend of nature and nurture. brent Staples in his essay Black Men and Pubic Space proves that ones character cannot al panaches be determined by their race which is a biological factor or ones upbringing and society. But both the nature and the nurture affect the way one behaves, I grew up one of the grave boys, had perhaps a half dozen fistfights. In retrospect, my shyness of combat has clear sources (Staples 315). Although the society he lived in was not good, he became a good person. It might be because of his behavior inherited from his parents and the good manner he was taught by his parents. So both nature and nurture by his parents work here and the environment of bad people didnt affect his behavior. However, he once says that Women are in particular defenseless to street violence, and young black males are drastically overrepresented among the perpetrators of that violence (Staples315). This makes the reader little confuse whether he himself is existence racist, but he is actually seek to explain that particularly African American males commit crimes more than others because of the environment they grew up in and the choice they made. This may not be because of particularly being a black man, but because of the culture he has adopted since his youngsterhood. Here he somehow takes the side of nurture.Many black people are imitation to be criminals. People judge them just by their appearance and the impression black people have made in todays world. But this does not always mean that every black people are criminals and itstheir biological factor that makes them do crimes. We can take the example of Brent Staple. Even though he was an educated and good person, many people and especially white women fear of him. But he was neither an uneducated person nor a criminal. He was brought up in a good family and properly nurtured by his parents. in that locationfore, nurturing became the factor for his behavior. Similarly, ther e are examples given by another actor Amy Cunningham in her essay, Why Women Smile. Although she focuses primarily on a smile, she tends to explain the actual cause of ones behavior. She explains that a smile or particularly a womens smile comes from both natural happiness as well as the hope of people living around them, The behavior seems to be an equal blend of nature and nurture (Cunningham 190).She further explains that both a normal baby and a blind baby smiles, although it may take a little longer for the blind one. It means that the smiles are natural and should not be taught in all cases. However, there are situations where people and especially women are social pressurized to smile and show a good behavior even if they dont want to, Evidently, a womans happy, willing obedience is something the world wants visibly demonstrated (Cunningham 191). It is both natural as well as nurtured along with the situations. For example It is more likely for a child to be a doctor in the future if his dad is a doctor too. Nature plays an important role here because the intelligence of the child is inherited from his father. But if the child is not given proper care of his education or if the parents encourage him to be something rather than doctor, he may choose other professions too. If the child is given proper care and if he is psychologically prepared that he should be a doctor in the future, nature and nurture plays equal role. There are many debates still going on whether human behavior is affected by nature or nurture.Many psychologists and scientists are still researching on whether it is ones genes or the environment that affects ones behavior. Yes, ones genes affect their characteristics but the environment they are cultured in withal affects the way they take actions. Since childhood, people are taught moral education at school and home. They learn how to talk, behave, act and respond. These all are nurture. If they are given good lessons, they will be able to be good in the future. But if one does not get proper guidance, he will turn out to be a morally bad person. These are the examples of human behavior affected bynurture. When we think about nature, different personality of people develops accord to the genetics tendencies. For example it is likely for a person to have the habit of being aggressive if his father or his mother or any of his biological family has the same habit. Also there are many styles of talking, eating or walking that are inherited by ones parents or biological family.Paul Theroux somehow agrees the equality of nature and nurture. In his essay Being a Man, he explains how nature and nurture has affected a man to be like a man. According to him a girl since her childhood is encouraged to behave in a cute way but a boy is instructed to behave roughly or so called manly, It begins with mother encouraging little girls to say (to other adults? Do you like my new dress? In a sense, little girls are traditionall y urged to please adults with a kind of coquettishness, while boys are enjoined to behave like monkeys toward each other. (Theroux177). This shows how a girl and a boy are nurtured differently which determines their characteristics. Healso takes the side of nature where some different behavior between men and women comes naturally, Femininity- being lady-like-implies needing a man as get word and seducer but masculinity celebrates the exclusive company of men (Theroux177). We can know from this that not only a nature of a girl or a boy separates each other from their behavior but also their parents or the environment or the nurturer encourage them to behave separately. Therefore, the behavior is determined by both nature and nurture.In conclusion, it can be stated that human behavior are both the result of nature and nurture. One can neither neglect the effect of biological factors one have on them nor disprove the behaviors that are affected by the environment one is living in. It is important for a person to have a good environment even if his biological parents are good in nature. Also, some characters are inherited from genes of ones parents that might last forever although he is far from his parents. Therefore, both the nature as well as nurture has equal effect on determining human behavior.Work CitedStaples, Brent. Black Men and Public Space. The Norton endorser An Anthology of Nonfiction. New York W.W. Norton & Company, 2012. Print Cunningham, Amy. Why Women Smile. The Norton Reader An Anthology of Nonfiction. New YorkW.W. Norton & Company, 2012. Print Theroux, Paul. Being a Man. The Norton Reader An Anthology of Nonfiction. New York W.W. Norton & Company, 2012. Print
Wednesday, May 22, 2019
Sample Questions
Chapter-1 MANAGERIAL ECONOMICS multiple extract Questions 1 Which of the next is a characteristic of a suddenly combative martplace? a. Firms argon damage setters. b. There ar few sellers in the commercialize. c. Firms potty st marrowly told and enter the market loosely. d. whatever of these 2 If a perfectly competitive solid soon claims where equipment casualty is great than borderline be it a. go forth change everywhere magnitude its gain grounds by producing to a greater extent. b. get out add-on its profits by producing less. c. is making positive scotchal profits. d. is making negative economic profits. 3 When a perfectly competitive firm set ups a decision to shut down, it is most belike that a.m atomic number 53tary value is be lowly the token(prenominal) of bonny inconsistent comprise. b. Fixed tolls exceed in unceasing approachs. c. Average unflinching embodys argon rising. d. Marginal monetary value is above average inconsistent comprise. 4 In the long tramp, a profit-maximizing firm ordain choose to exit a market when a. Fixed cost exceed drop down be. b. Average resolute cost is rising. c. Revenue from production is less than fall be. d. fringy cost exceeds marginal revenue at the current take aim of production. 5 When firms have an incentive to exit a competitive market, their exit volition a. Drive down market termss. b. Drive down profits of existing firms in the market. . Decrease the measurement of goods supplied in the market. d. All of the above are correct. 6 In a perfectly competitive market, the process of entry or exit ends when a. Firms are operating with excess capacity. b. Firms are making zero economic profit. c. Firms experience decreasing marginal revenue. d. Price is equal to marginal cost. 7 symmetry quantities in markets characterized by oligopoly is a. Lower than in monopoly markets and prouder than in perfectly competitive markets. b. Lower than in monopoly markets and lower than in perfectly competitive markets.Higher than in monopoly markets and higher than in perfectly competitive markets. d. Higher than in monopoly markets and lower than in perfectly competitive markets. 8 In economics the central fuss is a. b. c. d. e. Allocation. Consumption. Scarcity. Money. Production. c. 9 Indicate below what is NOT a factor of production. a. Land. b. A bank loan. c. Labor. d. upper-case letterital. 10 Macroeconomics deals with a. The behavior of firms. b. Economic aggregates. c. The activities of individual unit of measurements. d. The behavior of the electronics exertion. 11 Microeconomics is non concerned with the behavior of a. Aggregate bespeak. . Consumers. c. Industries. d. Firms. 12 The study of swelling is part of a. Normative economics. b. Macroeconomics. c. Microeconomics. d. Descriptive economics. 13 Aggregate supplies is the total amount a. Produced by the g everywherenment. b. Of products produced by a given industriousness. c. Of l abor supplied by all households. d. Of goods and services produced in an economy. 14 The total conduct for goods and services in an economy is known as a. case collect. b. Economy-wide convey. c. unrefined national product. d. Aggregate convey. 15 If marginal benefit is greater than marginal cost, a rational choice involves a.More of the activeness. b. Less of the activity. c. No more of the activity. d. More or less, awaiting on the benefits of other activities. 16 A student chooses to study because the marginal benefit is greater than the ________ cost. a. average b. total c. marginal d. expect 17 Periods of less than full employment correspond to a. b. c. d. Points outside the production possibility curve. Points inside the production possibility curve. Points on the production possibility curve. all points inside or outside the production possibility curve. 18 The circular flow of goods and incomes shows the relationship between a.Income and money. b. Wages and salaries . c. Goods and services. d. Firms and households. 19 In a free market system, the amount of goods and services that any one household gets depends upon its a. Income. b. Wage and interest income. c. Wealth. d. Income and wealth. 20 In a planned or command economy, all the economic decisions are taken by the a. Consumers. b. Workers. c. Government. d. Voters. Answers for Multiple Choice Questions 1 (c) 2 (a) 3 (a) 6 (b) 7 (d) 8 (c) 11(a) 12(b) 13(d) 16(c) 17(b) 18(d) 4 (c) 9 (b) 14(d) 19(d) 5 (c) 10 (b) 15(a) 20(c) Chapter-2 PRINCIPLES OF MANAGERIAL ECONOMICSMultiple Choice Questions 1 The word that comes from the Greek word for one who manages a household is a. Market. b. Consumer. c. Producer. d. Economy. 2 Economics deals primarily with the concept of a. Scarcity. b. Poverty. c. Change. d. Power. 3 Which of the spare-time activity(a) is NOT included in the decisions that every society must make? a. what goods will be produced b. who will produce goods c. what determines consumer preferences d. who will consume the goods 4 In a market economy, characterized by Capitalism, at that place is full interference by the State in the economic activities of consumers and producers. a)True (b) wild 5 In a market system of economy, there is no harmony between individual interests and interests of the community. (a)True (b) unreasonable 6 Efficiency is the relation between returns and cost. (a)True (b) off-key 7 The render matter of macro economic includes the theory of income and employment at an individual take. (a)True (b) ill-considered 8 Rational decision results infor the employees. a. Division of work. b. Centralization. c. Discip argument. d. Motivation 9 A Theory Y approach is more suitable where a work offers a. a high degree of intrinsic satisfaction. b.The ability to exercise initiative. c. An piece of problem solving. d. All of the above. 10 Breech identifies four main elements of management. They are planning, control, coordination and a. The divi sion of work. b. Centralization. c. Discipline. d. Motivation. 11 Many well-known business economists participate in commonplace debates. (a)True (b) dark 12 Marginal Utility is the utility derived from the additional unit of a commodity consumed. (a)True (b) fictitious 13 Compared to the static model, the fishing effort in a dynamic model is likely to be a. Larger. b. Smaller. c. Similar. . Larger or olive-sizeder. 14 Land, labor, and money are the three categories of economic resources. (a)True (b) foolish 15 Which of the following is non an interest drift derivative use for interest rate management? Interest rate guarantee a. Floor b. Swap c. Cap d. All of the above are interest rate derivatives 16 An agreement which guarantees an investor a minimum return on a principal amount is called a a. Cap b. Executive stock option c. Stock option d. Floor 17 Which of the factors listed below is non a reason for decision making in geological formations being a complex process? a. Modern information systems enable people to evaluate a range of possible outcomes b. Factors in the current context of the organization equal the decision c. Several stakeholders will have an interest in the decision d. People have to make decisions in a historical context 18 The overall process of decision making in, for example, staff selection includes which of these stages? a. Deciding which candidate to appoint b. Identifying the need for a new member of staff c. Agreeing the job specification d. All of the above 19 A manager who is helping a customer return some shoes they purchased last week is transaction with what typewrite of decision? . Un sealedty b. Non-programmed decision c. Bounded rationality d. Programmed decision 20 Decision making situations can be categorized on a scale which ranges from a. Uncertainty to certainty to risk b. Certainty to uncertainty to risk c. Certainty to risk to uncertainty d. Certainty to risk to uncertainty to ambiguity Answers for Multip le Choice Questions 1 (d) 2 (a) 3 (c) 6 (a) 7 (b) 8 (d) 11(a) 12(a) 13(a) 16(d) 17(a) 18(d) 4 (b) 9 (d) 14(b) 19(d) 5 (b) 10 (d) 15(d) 20(d) Chapter-3 CONCEPT OF DEMAND Multiple Choice Questions 1 The sum of money prayed of Pepsi has decreased.The best explanation for this is that a. The damage of Pepsi increased. b. Pepsi consumers had an increase in income. c. Pepsis advertising is not as effective as in the past. d. The equipment casualty of coca plant Cola has increased. 2 Demand curves are derived while property constant a. Income, tastes, and the expense of other goods. b. Tastes and the footing of other goods. c. Income and tastes. d. Income, tastes, and the wrong of the good. 3 When the decrease in the toll of one good causes the hire for another good to decrease, the goods are a. Normal b. Inferior c. Substitutes d.Complements 4 Suppose the demand for good Z goes up when the cost of good Y goes down. We can say that goods Z and Y are a. Substitutes. b. Complement s. c. Unrelated goods. d. Perfect substitutes. 5 If the demand for coffee decreases as income decreases, coffee is a. An low good. b. A normal good. c. A complementary good. d. A substitute good. 6 Which of the following will NOT cause a shift in the demand curve for mob discs? a. A channelise in the expenditure of pre-recorded cassette tapes. b. A change in income. c. A change in the price of compact discs. d. A change in wealth. When excess demand occurs in an unregulated market, there is a tendency for a. measure supplied to decrease. b. Quantity demanded to increase. c. Price to arising. d. Price to fall. 8 Market counterbalance exists when _____________ at the prevailing price. a. b. c. d. quantity demanded is less than quantity supplied quantity supplied is greater than quantity demanded quantity demanded equals quantity supplied quantity demanded is greater than quantity supplied 9 A movement along the demand curve to the left may be ca utilize by a. A decrease in ply . b. A sharpen in the price of inputs. c.A fall in the chip of substitute goods. d. A rise in income. 10 The quantity demanded of a product rises whenever (a) The products price falls. (b) Incomes increase. (c) Population increases. (d) The prices of substitute goods rise. (e) Consumer tastes and preferences change. 11 The equilibrium quantity must fall when (a) There is a decrease in demand. (b) There is a decrease in supply. (c) There is an increase in price. (d) There is an increase in demand and supply. (e) There is a decrease in demand and supply 12 The demand curve will shift to the left for most consumer goods when (a) Incomes decrease. b) The prices of substitutes fall. (c) The prices of complements increase (d) All of the above. 13 Producer goods, also called intermediate goods, in economics, goods manufactured and utilize in further manufacturing, processing, or resale. (a)True (b) bastard 14 Consumer goods are alternately called final goods, and the second term makes more sense in understanding the concept. (a)True (b) False 15 GDP stands for a. Gross Domestic Product b. Gross Deistic Product c. Gross dynamic product d. All of these 16 GNP stands for a. Gross national product b. Gross natural product c. Both (a)and (b) d.None of these 17 When the demand for a product is tied to the purchase of some parent product, its demand is called induced or derived. (a)True (b) False 18 An industry is the aggregate of firms (a)True (b) False 19 The law of demand implies that a. As prices fall, quantity demanded increases. b. As prices rise, quantity demanded increases. c. As prices fall, demand increases. d. As prices rise, demand decreases. 20 When the market operates without interference, price increases will distribute what is available to those who are willing and able to make up the most. This process is known as a. Price rationing. . Price fixing. c. Quantity adjustment. d. Quantity setting Answers for ego estimation Questions 1 (a) 2 (d) 3 (c) 6 ( c) 7 (c) 8 (c) 11(d) 12(d) 13(a) 16(a) 17(a) 18(a) 4 (b) 9 (a) 14(a) 19(a) 5 (b) 10 (a) 15(a) 20(a) Chapter-4 DETERMINATION OF DEMAND 1 The demand for a product or a service depends on a host of factors. (a)True (b) False 2 Demand curves may also be shifted by changes in expectations. (a)True (b) False 3 Quantity demand is a specific quantity that buyers are willing and able to buy at a specific demand price. (a)True (b) False 4 If the price of a complement increases, all else equal, a.Quantity demanded will increase. b. Quantity supplied will increase. c. Demand will increase. d. Demand will decrease. 5 Which of the following would lead to an INCREASE in the demand for golf balls? a. An decrease in the price of golf balls. b. An increase in the price of golf clubs. c. A decrease in the cost of producing golf balls. d. An increase in average household income when golf balls are a normal good. 6 If input prices increase, all else equal, a. Quantity supplied will decrease. b. Supply will increase. c. Supply will decrease. d. Demand will decrease. 7 Which of the following would decrease the supply of wheat? . A decrease in the price of pesticides. b. An increase in the demand for wheat. c. A rise in the price of wheat. d. An increase in the price of corn. 8 When Sonoma Vineyards increases the price of its Chardonnay from $15 per bottle to $20 per bottle, the result is a decrease in a. The quantity of this wine-colored demanded. b. The quantity of this wine supplied. c. The demand for this wine. d. The supply of this wine. 9 Which of the following will cause a change in quantity supplied? a. Technological change. b. A change in input prices. c. A change in the market price of the good. d. A change in the number of firms in the market. 0 In which of the following cases will the effect on equilibrium create be indeterminate (i. e. , depend on the magnitudes of the shifts in supply and demand)? a. Demand decreases and supply decreases. b. Demand stiff constant and supply increases. c. Demand decreases and supply increases. d. Demand increases and supply increases. 11 An increase in the number of firms selling pizza will cause, ceteris paribus, (a) an increase in supply. (b) an increase in demand. (c) a decrease in quantity demanded. (d) a decrease in the quantity supplied. 12 A change in demand is a change in the ENTIRE demand relation. a)True (b) False 13 The demand for a given product will rise if a. Incomes rise for a normal good or fall for an inferior good b. The price of a complement falls c. The price of a substitute rises d. All of these 14 Two explanations for the law of demand are (a) Price and quantity effects. (b) Substitution and income effects. (c) Opportunity cost and substitution effects. (d) Substitutes and inferior goods. (e) None of the above. 15 An increase in demand, ceteris paribus, will usually cause (a) A decrease in quantity demanded. (b) an increase in quantity supplied. (c) an increase in supply. d) a higher quanti ty and a lower price. 16. The quantity demanded of a product rises whenever (a) the products price falls. (b) incomes increase. (c) population increases. (d) the prices of substitute goods rise 17 The demand curve is downward-sloping because at a higher price for a good (ceteris paribus) (a) people buy fewer substitutes. (b) people buy more complements. (c) people search for substitutes. (d) income rises. (e) substitutes constrain complements. 18 The supply curve is upward-sloping because at higher prices for a good (a) consumers search out more substitutes. (b) consumer income increases. c) demand is lower. (d) None of the above. 19 If the factors held constant along a supply or demand curve change, (a) the equilibrium may change. (b) the demand and supply equilibrium may be disrupted. (c) the supply or demand curve may shift. (d) All of the above. 20 If the price of crackers goes up when the price of cheese goes down, crackers and cheese are (a) inferior goods. (b) substitutes. (c) both substitutes and complements. (d) complements Answers for Self Assessment Questions 1 (a) 2 (a) 3 (a) 6 (c) 7 (d) 8 (a) 11(a) 12(a) 13(d) 16(a) 17(c) 18(d) 4 (d) 9 (c) 14(b) 19(a) 5 (d) 10 (c) 15(b) 20(d)Chapter-5 PRICE ELASTICITY OF DEMAND 1 If the price centering of demand for a good is . 75, the demand for the good can be described as a. normal b. rubber band c. inferior d. dead. 2. When the price of a product is increased 10 percentage, the quantity demanded decreases 15 percent. In this range of prices, demand for this product is a. elastic b. inelastic c. bollocks-elastic. d. unitary elastic. 3. If the price catch of demand for a product is equal to 0. 5, consequently a 10 percent decrease in price will a. increase quantity demanded by 5 percent. b. increase quantity demanded by 0. percent. c. decrease quantity demanded by 5 percent. d. decrease quantity demanded by 0. 5 percent. 4 If an increase in the supply of a product results in a decrease in the price, but no change in the existent quantity of the product exchanged, then a. the price elasticity of supply is zero. b. the price elasticity of supply is infinite. c. the price elasticity of demand is unitary. d. the price elasticity of demand is zero. 5. If 100 units of product K are sold at a unit price of $10 and 75 units of product K are sold at a unit price of $15, one can conclude that in this price range a. emand for product K is elastic. b. demand for product K is inelastic. c. demand for product K has shifted to the right. d. consumers are sensitive to price changes of product K. 6 Total revenue falls as the price of a good increases if price ela sticity of demand is a. elastic. b. inelastic c. unitary elastic d. perfectly elastic. 7 The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact that a. Cheerios are a luxury. b. cereals are a necessity. c. there are more substitutes for Cheerios than for cereals as a whole. d. onsumption of cereals as a whole is greater than consumption of Cheerios. 8 What is the most likely effect of the cultivation of television, videocassette players, and rental movies on the movie orbit industry? a. b. c. d. decreased cost of producing movies increased demand for movie theater tickets movie theater tickets become an inferior good increased price elasticity of demand for movie theater tickets 9 The price elasticity of demand will increase with the aloofness of the period to which the demand curve pertains because a. consumers incomes will increase. b. the demand curve will shift outward. . all prices will increase over time. d. consumers will be better able to find substitutes. 10. A state establishment wants to increase the tax incomees on cigarettes to increase tax revenue. (a)True (b) False 11 This tax would solely be effective in raising new tax revenues if the price elasticity of demand is a. unity b. elastic c. inelastic d. perfectly elastic. 12. Sony is considering a 10 percent price reduction on its color television sets. If the demand for sets in this price range is inelastic A) revenues from color sets will remain constant. B) revenues derived from color sets will decrease.C) revenues derived from color sets will increase. D) the number of television sets sold will decrease 13 Elasticity of demand for a commodity with respect to change in its price. (a)True (b) False 14 An elasticity alternative in which infinitesimally microscopical changes in price cause infinitely large changes in quantity. (a)True (b) False 15 collar factors that affect the numerical value of the price elasticity of demand are the a. b. c. d. availability of substitutes time period of outline proportion of budget All of these 16 The price elasticity of demand is one of four common elasticitys used in the analysis of the market. a)True (b) False 17 Cross elasticity of demand is a. negative for complementary goods b. unitary for inferior goods. c. n egative for substitute goods d. positive for inferior goods. 18. A positive cross elasticity of demand coefficient indicates that a. a product is an inferior good. b. a product is a normal good. c. dickens products are substitute goods. d. devil products are complementary goods. 19 A market without legal prices is in equilibrium when a. quantity demanded equals price. b. the demand curve remains constant. c. quantity demanded equals quantity supplied. d. uantity demanded is greater than quantity supplied. 20 A relatively small change, say 1% on an INR 100,000 house, can make a BIG difference in the buyers decision to buy. (a)True (b) False Answers for Self Assessment Questions 1 (d) 2 (a) 3 (a) 4 (d) 5 (a) 6 (a) 7 (c) 8 (d) 9 (d) 10 (a) 11(d) 12(c) 13(a) 14(a) 15(d) 16(a) 17(a) 18(c) 19(c) 20(a) Chapter-6 TYPES OF ELASTICITIES OF DEMAND 1 If it is observed that, in a situation market, price has risen and quantity exchanged has increased, it is likely that a. supply has increased. b. supply has decreased. c. demand has increased. d. emand has decreased. 2 The quantity of a good demanded rises from 1000 to 1500 units when the price falls from $1. 50 to $1. 00 per unit. The price elasticity of demand for this product is approximately a. 1. 0 b. 16 c. 2. 5 d. 4. 0 3 If the elasticity of demand for a commodity is estimated to be 1. 5, then a decrease in price from $2. 10 to $1. 90 would be expected to increase daily sales by a. 50% b. 1. 5% c. 5% d. 15% 4 A long-run demand curve, as compared to a short-run demand curve for the same commodity, is in command a. more elastic b. less elastic c. of the same elasticity d. none of the above. The price elasticity of demand is 5. 0 if a 10 percent increase in the price results in a a. 2%decrease in quantity demanded. b. 5%decrease in quantity demanded. c. 10% decrease in quantity demanded d. 50% decrease in quantity demanded. 6 Demand for a good will likely be more elastic, a. The higher the level of income. b. The lar ger the proportion of monthly income spent on it. c. The fewer the good substitutes available. d. The higher the price of complementary goods. 7 Demand will be more elastic, a. The higher the income. b. The lower the price. c. The shorter the passage of time after a permanent price increase. . The more substitutes available for the good. 8 The price elasticity of demand measures the esthesia of demand to price changes. (a)True (b) False 9 If a good has no close substitutes and is regarded as a necessity by many consumers, then demand for the good will be quite elastic. (a)True (b) False 10 Cross elasticity of demand is the ratio of the percentage change in demand for a good to the percentage change in price for another. (a)True (b) False 11 A 50 percent increase in price that results in a 90 percent decrease in the quantity demanded indicates that demand is elastic in this price range. a)True (b)False 12 Demands for most goods tend to become more elastic with the passage of time. ( a)True (b) False 13 If two goods are substitutes, then an increase in the price of one good will leads to an increase in the demand for the other good. (a)True (b) False 14 If two goods are complements, then a decrease in the price of one good will results in a decrease in the demand of the other good. (a)True (b) False 15 The price elasticity of demand is the same as the slope of the demand curve. (a)True (b) False 16 If demand is price elastic, then a. a rise in price will wind up total revenue. b. a fall in price will raise total revenue. . a fall in price will lower the quantity demanded. d. a rise in price wont have any effect on total revenues. 17 Complementary goods have a. The same elasticitys of demand. b. very low price elasticity of demand. c. negative cross price elasticity of demand with respect to each other. d. positive income elasticity of demand. 18 The price elasticity of demand generally tends to be a. smaller in the long run than in the short run. b. smaller in the short run than in the long run. c. larger in the short run than in the long run. d. unrelated to the length of time. 19 If the price elasticity of supply of doodads is 0. 0 and the price increases by 3 percent, then the quantity supplied of doodads will rise by a. 0. 60 percent. b. 0. 20 percent c. 1. 8 percent d. 18 percent. 20 If the cross-price elasticity between two commodities is 1. 5, a. The two goods are luxury goods. b. The two goods are complements. c. The two goods are substitutes. d. The two goods are normal goods. Answers for Self Assessment Questions 1 (c) 2 (a) 3 (d) 6 (b) 7 (d) 8 (a) 11(a) 12(a) 13(a) 16(b) 17(c) 18(b) 4 (a) 9 (b) 14(b) 19(c) 5 (d) 10 (a) 15(b) 20(c) Chapter-7 SUPPLY ANALYSIS 1 The cost of factor inputs like land, labor, and capital has a major influence on supply. a)True (b) False 2 Which of the following factors will make the demand for a product more elastic? (Assume the product has a straight-line, downward sloping demand. ) a. The product ha s no close substitutes. b. A very small proportion of income is spent on the good. c. A long time period has elapsed since the products price changed. d. A lower price 3 For a given normal supply curve, the amount of a tax paid by the buyer will be larger a. the more elastic the demand. b. the more inelastic the demand. c. the income elasticity is equal to zero d. when the price is high. With a perfectly elastic demand and a normal supply (upward-slopping) a. consumers will bear the entire tax hinderance. b. consumers will not bear any tax burden. c. consumers and producer will split the tax burden in half. d. producers will not bear any tax burden. 5 Which of the following leads to the producers paying all of a tax? a. The supply is perfectly elastic. b. The supply is perfectly inelastic. c. The demand is unit elastic. d. The demand is perfectly inelastic. 6 The incidence (split) of sales tax is determined by the a. level of government which imposes the tax. b. national governmen t in all cases. c. greed of the seller. d. rice elasticity of supply and demand. 7 The market supply curve is the horizontal sum of the individual supply curve. (a)True (b) False 8 Supply determinants are five ceteris paribus factors that are held constant when a supply curve is constructed. (a)True (b) False 9 Supply is the willingness and ability of producers to make a specific quantity of output available to consumers at a particular price over a given period of time. (a)True (b) False 10 Individuals supply factors of production to firms. (a)True (b) False 11 The supply curve for tomatoes is not thus more elastic in the short run than in the flitting period. (a)True (b)False 2 Macroeconomic studies are based on empirical evidence. (a)True (b)False 13 Demand curve slopes upwards from left to right. (a) True (b)False 14 In the market, anyone who agrees to pay the requisite price of a product would be excluded from their consumption. (a) True (b)False 15 Aglets are the metal or pla stic tips on shoelaces that make it easier to lace your shoes. The demand for aglets is probably a. perfectly elastic. b. inelastic. c. elastic but not perfectly elastic. d. unit elastic. 16 The cross elasticity of demand measures the responsiveness of the quantity demanded of a particular good to changes in the prices of a.Its complements but not its substitutes. b. its substitutes but not its complements. c. its substitutes and its complements d. neither its substitutes nor its complements. 17 If goods are complements, definitely their a. income elasticitys are negative b. income elasticitys are positive. c. cross elasticitys are positive. d. cross elasticitys are negative. 18 If a rise in the price of good 1 decreases the quantity of good 2 demanded, a. the cross elasticity of demand is negative b. good 1 is an inferior good. c. good 2 is an inferior good d. the cross elasticity of demand is positive. 9 The price elasticity of demand generally tends to be a. smaller in the long r un than in the short run. b. smaller in the short run than in the long run. c. larger in the short run than in the long run. d. unrelated to the length of time. 20 The demand for your services becomes more elastic. (a)True (b)False Answers for Self Assessment Questions 1 (a) 2 (c) 3 (b) 6 (d) 7 (a) 8 (a) 11(b) 12(a) 13(b) 16(c) 17(d) 18(a) 4 (b) 9 (a) 14(b) 19(b) 5 (b) 10 (a) 15(b) 20(a) Chapter-8 PRODUCTION DECISION 1 Which of the following functions is not a core function of an organisation? a. The product/service development function b.The trading operations function c. The accounting and finance function d. The marketing (including sales) function 2 Most operations produce a mixture of both products and services. Which of the following businesses is nestled to producing pure services? a. IT company b. A Restaurant c. Counsellor/therapist d. Steel company 3 Operations can be classified concord to their volume and variety of production as well as the degree of conversion and v isibility. Which of the following operations would be classified as high volume, low variety? a. A family doctor b. A carpenter c. A front office bank d.A fast food restaurant 4 Which of the following activities is not a chair responsibility of operations management? a. Designing the operations products, services and processes b. Planning and controlling the operation c. Developing an operations dodge for the operation d. Determining the exact mix of products and services that customers will want 5 Operations can be classified according to the degree of variation in demand and visibility of the operation as well as their volume and variety of production. Which of the following operations would be classified as high variation and high visibility? a. A front office bank b.A family doctor c. A fast food restaurant d. A carpenter 6 The production function incorporates the technically efficient manner of . a. production. b. process c. function d. All of these 7 A quick-frozen input is one whose quantity cannot be varied during the time under consideration. (a)True (b)False 8 Economists find it convenient to distinguish between the . and the long run. a. short run b. large run c. big run d. None of these 9 The law of variable proportions states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will at long last decline. a)True (b)False 10 MRP stands for a. Marginal Revenue Product b. Marginal Revenue process c. Both (a) and (b) d. None of these 11 The book value of old equipment is not a germane(predicate) cost in a decision. (a)True (b)False 12. One of the dangers of allocating common fixed costs to a product line is that such allocations can make the line appear less profitable than it really is. (a)True (b)False 13. A differential cost is a variable cost. (a)True (b)False 14. All future costs are relevant in decision making. (a)True (b)False 15. Variable costs are always relevant costs. (a)T rue (b)False 6 Only the variable costs identified with a product are relevant in a decision concerning whether to eliminate the product. (a)True (b)False 17 Managers should pay little attention to bottleneck operations because they have limited capacity for producing output. (a)True (b)False 18 A cost that does not affect a decision is called an a. opportunity cost b. incremental cost c. avoidable cost d. irrelevant cost 19. Costs that change between alternatives are called a. fixed costs. b. opportunity costs. c. crelevant costs. d. sunk costs. 20. A cost incurred in the past that cannot be changed by any future action is a(n) a. pportunity cost b. sunk cost c. relevant cost d. avoidable cost Answers for Self Assessment Questions 1 (c) 2 (c) 3 (d) 6 (a) 7 (a) 8 (a) 11(a) 12(a) 13(b) 16(b) 17(b) 18(d) 4 (d) 9 (a) 14(b) 19(c) 5 (b) 10 (a) 15(b) 20(b) Chapter-9 ISOQUANT AND PRODUCTION FUNCTION 1 Economists typically assume that the owners of firms wish to a. produce efficiently. b. ma ximize sales revenues. c. maximize profits. d. All of these. 2 Efficient production occurs if a firm a. cannot produce its current level of output with fewer inputs. b. given the quantity of inputs, cannot produce more output. c. maximizes profit. d. All of the above. throttle liability is a benefit to a. sole proprietorships. b. partnerships. c. corporations. d. all of the above. 4 Which of the following statements best describes a production function? a. the uttermost profit generated from given levels of inputs b. the maximum level of output generated from given levels of inputs c. all levels of output that can be generated from given levels of inputs d. all levels of inputs that could produce a given level of output 5 With respect to production, the short run is best defined as a time period a. lasting about six months. b. lasting about two years. c. in which all inputs are fixed. d. n which at least one input is fixed. 6 In the long run, all factors of production are a. vari able. b. fixed. c. materials. d. rented. 7 The short-run production functions for Alberts Pretzels. The marginal productivity of labor equals the average productivity of labor a. for all levels of labor. b. at none of the levels of labor. c. tho for the premier(prenominal) worker. d. save for the fifth worker. 8 the short-run production function for Alberts Pretzels. The law of diminishing marginal productivity a. appears with the second worker. b. has not yet appeared for any of the levels of labor. c. first appears with the fifth worker. d. s refuted by this evidence. 9 If the average productivity of labor equals the marginal productivity of labor, then a. the average productivity of labor is at a maximum. b. the marginal productivity of labor is at a maximum. c. Both A and B above. d. Neither A nor B above. 10 Average productivity will fall as long as a. marginal productivity is falling. b. it exceeds marginal productivity. c. it is less than marginal productivity. d. the numb er of workers is increasing. 11 Factors of production are a) inputs and outputs. b) outputs scarcely c) inputs only d) the minimum set of inputs that can produce a certain fixed quantity of output. 2 The set of all pairs (z1, z2) of inputs that yield the output y is the y-is quant. (a)True (b)False 13 L-shaped isoquants imply that production requires that the inputs are perfect substitutes. a. are imperfect substitutes. b. cannot be used together. c. must be used together in a certain proportion. d. None of these 14 Isoquants that are downward-sloping straight lines imply that the inputs a. are perfect substitutes. b. are imperfect substitutes. c. cannot be used together. d. must be used together in a certain proportion. 15 Isoquants that are downward-sloping straight lines exhibit a. n increasing marginal rate of technical substitution. b. a decreasing marginal rate of technical substitution. c. a constant marginal rate of technical substitution. d. a marginal rate of technical su bstitution that cannot be determined. 16 The profit maximization firm will choose the least cost combination of factors to produce at any given level of output. (a)True (b) False 17 The production function is useful in deciding on the additional value of employing a variable input in the production process. (a)True (b) False 18 The additional use of an input factor should be stopped when its marginal revenue productivity just equals its price. a)True (b) False 19 The least cost combination of-factors or producers equilibrium is now explained with the help of .. curves and iso costs. a. iso product b. iso process c. Both(a) and (b) d. None of these 20 MRTS stands for.. a. Marginal rate of technical social organization b. Marginal rate of technical substitution c. Both(a) and (b) d. None of these Answers for Self Assessment Questions 1 (d) 2 (d) 3 (c) 6 (a) 7 (c) 8 (a) 11(c) 12(a) 13(c) 16(a) 17(a) 18(a) 4 (b) 9 (a) 14(a) 19(a) 5 (d) 10 (b) 15(c) 20(b) Chapter-10 THEORY OF COST 1 The cost of capital is critically great in finance. a)True (b)False An implicit cost is a. the cost of giving up an alternative b. the cost of a chosen alternative c. calculated by subtracting the financial cost. d. none of the above 3 The historical cost of an asset refers to the actual cost incurred at the time the asset was acquired. (a)True (b) False 4 An Explicit cost is a business expense accounted cost that can be slowly identified such as wage, rent and materials. (a)True (b) False 5 Private is the cost that has to be paid by an individual who is nowadays involved in the production or consumption of a particular good. a)True (b) False 6 Social cost or external cost is not the cost burden carried by individuals who are not directly involved in the production or consumption of that particular good (a)True (b) False 7 Average cost is the sum total of Average variable it and average fixed cost. (a)True (b) False 8 Cost-output relationship facilitates many managerial relationshi ps such as a. Formulating the standards of operations. b. Formulating the rational form _or_ system of government on plant size. c. Formulating a policy of profit prediction. d. All of these 9 Cost in the short-run can be classified intoand variable cost. a. fixed cost b. sset c. both (a) and (b) d. None of these 10 Total fixed costs remained fixed irrespective of increase or decrease in production of activity. (a)True (b) False 11 Marginal costs is the change in total cost resulting from unit change in.. a. output b. input c. both(a) and (b) d. None of these 12 The . implies that the cost of production continues to be low till the firm reaches the optimum scale (Marginal cost = Average cost). a. V-shape b. Q-shape c. U-shape d. All of these 13 Scale economies and returns to scale generally produce a U-shaped long-run average cost curve, such as the one displayed to the right. a) True (b) False 14 __________ is concerned with the branch of economics relating the behavior of princip als and their agents. a. fiscal management b. Profit maximization c. Agency theory d. Social responsibility 15 A concept that implies that the firm should consider issues such as protect the consumer, paying fair wages, maintaining fair hiring practices, supporting education, and considering environmental issues. a. Financial management b. Profit maximization c. Agency theory d. Social responsibility 16 Which of the following is not normally a responsibility of the treasurer of the modern corporation but preferably the controller? . Budgets and forecasts b. Asset management c. Investment management d. finance management 17 The __________ decision involves determining the appropriate make-up of the righthand side of the balance sheet. a. asset management b. financing c. investment d. capital budgeting 18 A long-run is also expressed as a series of short-runs. (a)True (b)False 19 Which of the following are used in calculating opportunity costs? a. monetary costs b. the cost of time c. preference d. all of the above 20 An explicit cost is a. the cost of giving up an alternative b. the cost of a chosen alternative c. alculated by subtracting the monetary cost of an alternative by the time invested d. none of the above Answers for Self Assessment Questions 1 (a) 2 (a) 3 (a) 6 (b) 7 (a) 8 (d) 11(a) 12(c) 13(a) 16(a) 17(b) 18(a) 4 (a) 9 (a) 14(c) 19(d) 5 (a) 10 (a) 15(d) 20(b) Chapter-11 MARKET STRUCTURE, AND PRICING 1 Which of the following cannot be classed as a market structure? a. Oligopoly. b. Perfect competition. c. Communism. d. Monopolistic competition. 2 Income and population are two variables that can be used in ______ segmentation a. psychographic b. demographic c. lifestyle d. behavioural 3 Strong exchange rates can a. help stimate consumer purchasing power. b. help predict change in lifestyle across Europe. c. predict the evolution of sales for particular brands. d. drive imports to become cheaper. 4 BERI stands for a. ancestry Economic Risk Index. b . Business Economic Rating International. c. Business Education Rating Indicator. d. Business Environment Risk Index. 5 The size and liquidity requirements are based on the minimum invest ability requirements for the MSCI Global Standard Indices. (a) True (b) False 6 Oligopoly is a market structure in which a small number of firms account for the whole industrys output. (a) True (b) False The number of firms and product differentiation are extremely crucial in determining the nature of competition in a market. (a) True (b) False 8 type of market structure represented by the constant returns to scale (CRS) applied science includes a. Monopolistic competition b. Oligopoly c. Duopoly d. Perfect competition 9 In industries in which there are scale economies, the variety of goods that a country can produce is constrained by a. the fixed cost b. the size of the labor force c. the marginal cost d. the size of the market 10 A monopoly firm engaged in international trade but enjoying a prot ected home market will a. quate marginal costs with foreign marginal revenues. b. equate marginal costs with marginal revenues in both domestic and foreign markets c. equate average costs in local and foreign markets d. none of the above 11 Minimum efficient scale of production in relation to the overall industry output and market requirement sometimes play a major role in shaping the market structure. (a)True (b) False 12 Price and output decisions of firms that want to maximize profits always depend on costs. (a) True (b) False 13 Which of the following is NOT a financial objective of determine? a. Corporate growth. b.Return on investment. c. Profit maximization. d. None of these 14 Which of the following is NOT a marketing objective? a. Cash flow. b. Positioning. c. Volume sales. d. None of these 15 mise en scene a price below that of the competition is called a. Skimming. b. Penetration pricing. c. Competitive pricing. d. None of these 16 Which of the following is NOT a reason for cutting prices? a. Capacity utilisation. b. change magnitude profit margins. c. Market defence. d. None of these 17 Which of the following is NOT a reason for increasing prices? a. Cost pressures. b. Price comparison. c. Curbing demand. d.None of these 18 The costs that depend on output in the short run are a. both total variable costs and total costs. b. total costs only. c. total fixed cost only. d. total variable costs only 19 A firm will shut down in the short run if a. fixed costs exceed revenues. b. total costs exceed revenues. c. it is suffering a loss. d. variable costs exceed revenues. 20 In the long run, every cost is variable cost. In this period, all costs ever incurred by the firm must be recovered. (a)True (b) False Answers for Self Assessment Questions 1 (c) 2 (b) 3 (d) 6 (a) 7 (a) 8 (d) 11(a) 12(a) 13(a) 16(b) 17(b) 18(a) (d) 9 (d) 14(a) 19(d) 5 (a) 10 (b) 15(b) 20(a) Chapter-12 PERFECT COMPETITION 1. A perfectly competitive firm will maximize profit at the qua ntity at which the firms marginal revenue equals a. price b. average revenue c. total cost d. marginal cost 2 Which of the following is not a valid option for a perfectly competitive firm? a. Increasing its output. b. Decreasing its output. c. Increasing its price. d. Increasing its resources. 3 In the long run, a perfectly competitive firm will achieve all but which of the following a. Economic profit b. Allocative Efficiency c. Productive Efficiency d.Normal profit 4 If the price a firm receives for its product is equal to the marginal cost of producing that product, the firm is a. incessantly earning an economic profit b. Always productively efficient. c. Always allocatively efficient. d. Always experiencing an economic loss. 5 A firm that is producing at the lowest possible average cost is always a. Earning an economic profit. b. Productively efficient. c. Dominating the other firms in the market. d. Not producing enough output. 6 Which of the following is the best example of a perfectly competitive market? a. diamonds b. athletic shoes c. soft drinks d. arming 7 Perfect competition is an industry with a. a few firms producing indistinguishable goods. b. many firms producing goods that differ somewhat. c. a few firms producing goods that differ somewhat in quality. d. many firms producing identical goods. 8 In a perfectly competitive industry, there are a. many buyers and many sellers. b. many sellers, but there might be only one or two buyers. c. many buyers, but there might be only one or two sellers. d. one firm that sets the price for the others to follow. 9 In perfect competition, the product of a single firm a. is sold to different customers at different prices. b. as many perfect complements produced by other firms. c. has many perfect substitutes produced by other firms. d. is sold under many differing brand names. 10 In perfect competition, restrictions on entry into an industry a. do not exist. b. apply to labor but not to capital. c. apply to both capital and labor. d. apply to capital but not to labor. 11 Price for a firm under noncompetitive competition is ______. a. equal to marginal revenue b. greater than marginal revenue c. less than marginal revenue d. greater than total revenue 12 In the long run, monopolistically competitive firms tend to experience ______. a. high economic profits b. ero economic profits c. negative economic profits d. substantial economic losses 13 Marginal revenue for a monopolist is ______ a. equal to price b. greater than price c. less than price d. equal to average revenue 14 Perfect competitions describes a market structure whose assumptions are extremely strong and highly unlikely to exist in most real-time and real-world markets. (a)True (b) False 15 Monopolistic competition is a market structure characterized by a large number of relatively small firms. (a)True (b) False 16 A monopolist can sell more of his output only at a lower price and can sign up the sale at a high price. a)True (b) False 17 A monopoly is a market structure in which there is not only one producer/seller for a product. (a)True (b) False 18 A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. (a)True (b) False 19 A perfectly competitive firm faces .. production alternatives based on a comparison of price, average total cost, and average variable cost. a. four short-run b. three short-run c. five short-run d. All of these 20 A perfectly competitive firms marginal cost curve that lies above the .. of the average variable cost curve is its supply curve. . minimum b. maximum c. both(a) and (b) d. None of these Answers for Self Assessment Questions 1 (d) 2 (c) 3 (a) 6 (d) 7 (d) 8 (a) 11(a) 12(b) 13(a) 16(b) 17(b) 18(a) 4 (c) 9 (c) 14(a) 19(b) 5 (b) 10 (a) 15(a) 20(a) Chapter-13 OLIGOPOLY AND PRICING STRATEGIES 1 A price- and quantity-fixing agreement is known as a. game theory. b. price leadership. c. collusion. d. price c oncentration. 2 A group of firms that gets together to make price and output decisions is called a. a cartel. b. price leadership. c. an oligopoly. d. a concentrated industry 3 Products produced by oligopolistic ? rms are a. Homogeneous. b. Heterogeneous. . Differentiated. d. Heterogeneous or differentiated. 3 Oligopoly is the only market structure characterized by a. Interdependence in pricing and output decisions. b. Differentiated products. c. Barriers to entry. d. Pro? t-maximizing behavior. 4 Oligopoly is characterized by all of the following except a. A few large ? rms. b. Differentiated product. c. Difficult entry into the industry. d. Price competition 5 A major threat to longer term profits exists when barriers to entry into an industry are high. (a)True (b) False 6 Under crooked demand theory the prices of oligopolists are predicted to be alternatively rigid or sticky. a)True (b) False 7 In contestable markets, large oligopolistic firms end up behaving like a. a monopoly . b. monopolistically competitive firms. c. a cartel. d. perfectly competitive firms 8 Which of the following types of oligopoly competition would you expect to result in the highest market output, other things equal? a. b. c. d. Stackelberg. Bertrand. Cornet. Collusion 9 The demand curve has a kink at the price which is equal to full cost price. (a) True (b) False 10. An pro? t maximizing, oligopolistic firms produces at an output level where a. P = ATC. b. MR = MC. c. MR = ATC. d. AVC MR. e.P = MR 11 Cartels are most likely to arise in which of the following market structures? a. Perfect competition. b. Monopolistic Competition. c. Oligopoly. d. Monopoly. 12 A cartel is a formal collusive organization of the oligopoly firms in an industry. (a) True (b) False 13 Needs such as training the group, setting standards and maintaining discipline, and appointing sub-leaders may be called a. team functions. b. work functions. c. individual functions. d. labor movement functions. 14 The H all and flitch model of the kinked demand curve is based on an empirical survey of a sample of 38 well managed weapons system in England. a) True (b) False 15 The model uses the analytical tools of reaction functions of the duopolists derived on the basis of is not profit curves. (a) True (b) False 16 The important models of non-collusive oligopoly are (a) Cournot model, (b) Kinked Oligopoly demand curve models. (a) True (b) False 17 Which of the following is not an operations strategy? a. response b. low-cost leadership c. differentiation d. technology 18 Which of the following is not one of the leadership styles identified in Houses pathgoal theory? a. Participative. b. Employee-centered. c. Directive. d. Achievement-oriented. 9 The petroleum industry is an example of a. monopolistic competition. b. pure oligopoly. c. duopoly. d. differentiated oligopoly. 20 The kinked demand curve model assumes that a. firms match price increases, but not price cuts. b. demand is more elastic fo r price cuts than for price increases. c. changes in marginal cost can never lead to changes in market price. d. None of the above is correct. Answers for Self Assessment Questions 1 (c) 2 (a) 3 (d) 6 (b) 7 (a) 8 (b) 11(b) 12(c) 13(a) 16(a) 17(d) 18(b) 4 (a) 9 (b) 14(a) 19(b) 5 (d) 10 (a) 15(b) 20(d) Chapter-14 PROFIT ANALYSIS 1.A variable cost is a cost that a. varies per unit at every level of activity b. occurs at various times during the year c. varies in total in proportion to changes in the level of activity d. may not be incurred, depending on managements discretion 2. A cost which remains constant per unit at various levels of activity is a a. variable cost b. fixed cost c. mixed cost d. manufacturing cost 3. A fixed cost is a cost which a. varies in total with changes in the level of activity b. remains constant per unit with changes in the level of activity c. varies inversely in total with changes in the level of activity d. emains constant in total with changes in the le vel of activity 4. Cost behavior analysis is a study of how a firms costs a. relate to competitors costs b. relate to general price level changes c. respond to changes in activity levels within the company d. respond to changes in the gross national product 5. Cost behavior analysis applies to a. retailers b. wholesalers c. manufacturers d. all entities 6. The relevant range of activity refers to the a. geographical areas where the company plans to operate b. activity level where all costs are curvilinear c. levels of activity over which the company expects to operate d. evel of activity where all costs are constant 7. Which of the following is not a plausible explanation of why variable costs oftentimes conduct in a curvilinear fashion? a. Labor specialization b. Overtime wages c. Total variable costs are constant within the relevant range d. Availability of quantity discounts 8. Firms operating constantly at 100% capacity a. are common b. are the exception rather than the rule c . have no fixed costs d. have no variable costs 9. Which one of the following is a name for the range over which a company expects to operate? a. Mixed range b. Fixed range c. Variable range d.Relevant range 10 The graph of variable costs that behave in a curvilinear fashion will a. approximate a straight line within the relevant range b. be sharply kinked on both sides of the relevant range c. be downward sloping d. be a stair-step pattern 11. A mixed cost contains a. a variable cost element and a fixed cost element b. both selling and administrative costs c. both retailing and manufacturing costs d. both operating and non-operating costs 12. The variable costing rule is also known as the direct costing method indirect costing approach absorption costing method period costing approach 13.The costing approach that charges all manufacturing costs to the product is referred to as a. variable costing b. contribution margin costing c. direct costing d. absorption costing 14. Variable c osting is delightful for a. financial statement purposes b. profit tax purposes c. internal use by management only d. profit tax purposes and for internal use by management 15. CVP analysis does not consider a. level of activity b. fixed cost per unit c. variable cost per unit d. sales mix 16. Which of the following is not an underlying assumption of CVP analysis? a. Changes in activity are the only factors that affect costs b.Cost classifications are reasonably accurate c. Beginning inventory is larger than ending inventory d. Sales mix is constant 17. Which of the following would not be an acceptable way to express contribution margin? a. Sales minus variable costs b. Sales minus unit costs a. b. c. d. c. d. Unit selling price minus unit variable costs Contribution margin per unit divided by unit selling price a. b. c. d. 18. The level of activity at which total revenues equal total costs is the variable point fixed point semi-variable point break-even point 19. The break-even po int is where a. otal sales equals total variable costs b. contribution margin equals total fixed costs c. total variable costs equal total fixed costs d. total sales equals total fixed costs 20. Gross profit also includes rent that arises from the entrepreneurs own land used in his production of output. a. True b. False Answers for Self Assessment Questions 1. (c) 2. (a) 3. (d) 4. (c) 7. (c) 8. (b) 9. (d) 10. (a) 11. (a) 14. (c) 15. (b) 16. (b) 17. (b) 18. (d) 5. (d) 12. (a) 19. (b) 6. (c) 13. (d) 20. (a) Chapter-15 1. There are . methods which can be used to appraise any investment project (a) 1 (b) 2 (c) 3 (d) 4 2. topic income is the total of the value of the goods and the services which are produced in an economy. (a) True (b) False 3. Which two of the following are likely to raise the equilibrium value of National Income? (a) Rise in savings. (b) Rise in imports. (c) Rise in government spending. (d) Rise in exports. 4. Which two of the following are excluded when measuring Nati onal Income? (a) care for added in the output method. (b) Value of intermediate inputs in the output method. (c) Consumer spending in the expenditure method. (d) Transfer payments in the income method. 5.The return on an investment comes in the form of a stream of earnings in the future. (a) True (b) False 6. Cost-benefit analysis is a process for evaluating the merits of a particular project or cross of action in a systematic and rigorous way. (a) True (b) False 7. Real investment is not (a) the amount that shareholders are willing to provide for shares in a company (b) the cost of development of a new product (c) expenditure on public relations, staff training or research and development (d) expenditure on non-current assets such as plant, machinery, land and buildings 8.Which of the following statements about IRR and NPV is not correct? (a) NPV always gives the correct investment decision. (b) IRR gives an unreliable answer with non-conventional projects. (c) IRR can accommoda te changes in the cost of capital. (d) IRR is a useful relative measure if comparing projects of differing sizes. 9. Gross Domestic Product (GDP) is the total market value of all final goods and services currently produced within the domestic territory of a country in a year. (a) True (b) False 10. Which of the following will not be a relevant factor when using the payback method of capital investment appraisal? a) The timing of the first cash inflow (b) The total cash flows generated by the asset (c) The cash flows generated by the asset up to the payback period (d) The cost of the asset 11. Why the payback method is often considered inferior to discounted cash flow in capital investment appraisal? (a) I is more difficult to calculate (b) It does not calculate how long it will take to recoup the money invested (c) It does not take account of the time value of money (d) It only takes into account the future income of a project 12.Gross National Product is the total market value of a ll final goods and services produced in a year. (a) True (b) False 13. In 2005. was the least significant liability of U. S. nonfinancial businesses in terms of total value. (a) bonds and mortgages (b) bank loans (c) inventories (d) trade debt 14. .. are examples of financial intermediaries. (a) Commercial banks (b) Insurance companies (c) Investment companies (d) All of the above 15. Financial assets .. a) directly contribute to the countrys productive capacity (b) indirectly contribute to the countrys productive capacity (c) contribute to the countrys productive capacity both directly and indirectly (d) do not contribute to the countrys productive capacity either directly or indirectly 16. The means by which individuals hold their claims on real assets in a welldevelopedeconomy are (a) investment assets. (b) depository assets. (c) derivative assets (d) financial assets 17. Capital budgeting is the process of evaluating and selecting long-term investments that are consistent with t he goal of the firm. a) True (b) False 18. Although derivatives can be used as speculative instruments, businesses most often use them to (a) attract customers. (b) appease stockholders. (c) offset debt. (d) hedge 19. The investment in fixed assets increases the fixed cost of the firm which must be recovered from the benefit of the same project. (a)True (b) False 20. National Income is defined as the sum total of all the goods and services produced in a country, in a particular period of time. (a) True (b) False Answer 1. (c) 2. (a) 3. (c) 4. (b) 5. (a) 6. (a) 7. (a) 8. (c) 9. (a) 10. (b) 11. (c) 12. (a) 13. (b) 14. (d) 15. b) 16. (d) 17. (a) 18. (d) 19. (a) 20. (a) Chapter-16 1. In period of inflation, phantom or paper profits may be reports as a result of using the (a) FIFO costing assumption (b) Perpetual inventory method (c) LIDO costing assumption (d) Periodic inventory method 2. Inflation is (a) an increase in the overall price level. (b) an increase in the overall level of ec onomic activity. (c) a decrease in the overall level of economic activity. (d) a decrease in the overall price level. 3. Aggregate supply is the total amount (a) produced by the government. (b) of goods and services produced in an economy. c) of labour supplied by all households. (d) of products produced by a given industry. 4. The value of a dollar does not stay constant when there is inflation. (a) True (b) False 5. The inflation rate in India was recorded at 7. 23% in (a) April of 2009 (b) April of 2010 (c) April of 2011 (d) April of 2012 6. The function of money that helps assess the opportunity cost of an activity is moneys use as a (a) sensitive of exchange. (b) store of value. (c) unit of account. (d) store of debt. 7. An official measure of money in the fall in States is M1, which consists of the sum of (a) currency positively charged travelers checks. b) currency plus checkable deposits. (c) currency plus travelers checks plus checkable deposits. (d) currency plus travel ers checks plus time deposits. 8. Implies no trade-off between unemployment and inflation. (a) GDP deflator (b) Shoe leather costs (c) Long-run Phillips curve (d) plug-in costs 9. The inflation rate is used to calculate the real interest rate, as well as real increases in wages. (a) True (b) False 10 the quantity of money in the United States. (a) The State Department controls (b) The Department of Treasury controls (c) The Federal Reserve System controls (d) Commercial banks control 11.There are slackly .. ways of controlling inflation in an economy. (a) 2 (b) 3 (c) 4 (d) 5 12. The balance of payments of a country is said to be in equilibrium when the demand for foreign exchange in exactly equivalent to the supply of it. (a) True (b) False 13. A general decline in prices is often caused by a reduction in the supply of.. (a) money or debit (b) money or credit (c) money (d) None of these 14. The opportunity cost of holding money is the (a) inflation rate minus the nominal interest rate. (b) nominal interest rate. (c) real interest rate. (d) unemployment rate. 15.If the Fed is worried about inflation and wants to raise the interest rate, it (a) increases the demand for money. (b) increases the supply of money. (c) decreases the demand for money. (d) decreases the supply of money. 16. The circular flow of goods and incomes shows the relationship between (a) income and money. (b) goods and services. (c) firms and households. (d) wages and salaries. 17. Fiscal measures to control inflation include taxation, government expenditure and public borrowings. (a) True (b) False 18. Hyperinflation (a) occurs in the United States during each business cycle. b) occurs only in theory, never in reality. (c) has never occurred in the United States. (d) happens in all countries at some time during their business cycle. 19. Hyperinflation refers to a situation where the prices rise at an alarming high rate. (a) True (b) False 20. The inflation rate is used to calculate the real interest rate, as well as real increases in wages. (a)True (b) False Answer 1. (b) 2. (a) 3. (b) 4. (a) 11. (a) 12. (a) 13. (b) 14. (c) 5. (d) 6. (c) 15. (d) 16. (c) 7. (c) 8. (c) 17. (a) 18. (c) 9. (a) 10. (c) 19. (a) 20. (a)
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