Transportation economics Homework
Questions below:INSTRUCTIONS:The exam consists of 50 multiple choice or true/false questions. Each has only 1 correct answer. Each correct answer is worth 2 points. Please pay attention to instructions in class, in emails and on Blackboard.1.Which of the following is a segment of motor freight transportation:A. Taxi cab fleetB. Dedicated fleet of bargesC. Hovercraft fleetD. A class I railroadE. Regional LTL carrier2.For hire trucking companies:A. Provide delivery service to the public for an agreed feeB. Charge a fee for transporting only property that is to their likingC. Are not required to register with the FMCSAD. Must publish their tariffs with the DOTE. None of the above3.The definition of “Private Trucking” is that the shipper (or consignee) owns its own fleet of trucks, operates the trucks, and employs the drivers. Private fleets can offer their service to other shippers, and many do so to create backhauls.A. T orB. F4.The U.S. trucking industry produces:A. Approximately 86% of the national freight billB. About $120 million in freight billingsC. Employment for 1.0 million peopleD. 350 million miles driven per annumE. None of the above5. In the motor freight segment of transportation wages and benefits account forApproximately 27% of the total cost.A. T orB. F6.Motor freight service is characterized by:A. High degree of accessibility/flexibilityB. Slowest terminal-to-terminal transit time of all modesC. Single 53’ trailer can haul about 65,000 pounds of cargo.D. Usually slowest mode up to a length of haul of 500 milesE. All of the above7. Motor freight can be subdivided into more specific categories. Which of the following is a category of motor freight:A. Small parcel air deliveryB. PipelineC. Full truckload serviceD. Unit trainsE. Barge service8. Which of the following is a segment of Truckload Motor Freight:A. LTLB. Parcel DeliveryC. IntermodalD. General Cargo (Dry Vans)E. None of the above9. Truckload operations generally require that the shipper load the trailer.A. T orB. F10. Fuel is a large component of variable cost of truckload carriers.A. T orB. F11. Truckload carriers usually charge:A. A price per 100 lbs of cargo drivenB. A flat rate per trailer from Point A to Point BC. Per cubic meter of the cargo loaded in the trailerD. Cents per kilo of the cargo loaded in the trailerE. All of the above12. Temperature controlled vans are used by shippers to prevent the contents of the trailer from getting too hot or too cold.A. T orB. F13. Truckload carriers charge a Fuel Surcharge that is usually based on:A. The average price of diesel fuel at public pumps in different regions of the U.S., as published by the Department of EnergyB. The number that comes up on a die rolled by the Secretary of Energy on the 1st day of each monthC. An Executive Decree issued b the President of the American Trucking AssociationD. The fact that the FSC does NOT vary too much over time.E. None of the above14. Trucking companies that specialize in moving marine containers:A. Do not usually own the containersB. Do not usually own the chassisC. Only provide the power unit (AKA tractor or truck) and driverD. Are generally not responsible for repairs and maintenance to the container or chassisE. All of the above15. Trucks carrying over dimensional or overweight cargo may incur costs for special permits and escort services, which the carrier bills to the shipper or consignee .A. T orB. F16. The primary phases of an oil well or gas well’s life require many different forms of transportation. A. T orB. F17. In the U.S. motor carriers of property are generally liable for 100% of the delivered market value of any loss of or damage to said property.A. T orB. F18. There are exceptions to this law, which include all the following except:A. When the BOL is executed on a U.S. holidayB. When the Bill of Lading contains wording clearly indicating that the shipper agreed to a lower liability in exchange for a lower transportation rate (Released Value)C. When the carrier’s tariff contains language specifying that it will be responsible for loss or damage only up to a certain amount.D. When the shipper-carrier contract explicitly states that the carrier is accepting the cargo at a reduced value for liability purposes.E. None of the above19. Liability and insurance are different facets of cargo loss or damage.A. T orB. F20. LTL operations are usually based on a hub and spoke system.A. T orB. F21. LTL carriers consolidate many smaller shipments for hauling the cargo long distances from one hub to another.A. T orB. F22. At the destination hub the carrier deconsolidates the freight and loads smaller “city trucks” to make the delivery to the consignee’s specific address.A. T orB. F23. In general the average weight of a U.S. surface shipment moving via a parcel carrier:A. Is > 20,000B.Is > 1 kgC.Is always expressed in KilogramsD .On average weights under 150 lbsE. Exceeds the weight capacity of the 747 F Series 40024. LTL prices are usually documented in one of three ways. Those three ways are:A. In the Friday edition of the Wall Street JournalB. The carrier’s tariffC. In a documented rate quoteD. In the DOT Manual of Trucking RatesE. In a confidential contract between the shipper and carrierF. B, C or E25. It is important for transportation managers understand and utilize the concept of “Breakeven Point” between LTL and TL for a given shipment.A. T orB. F26.Railroads performed a vital role in the populating of the U.S frontier and in the process of industrialization in the U.S. and Europe.A. T orB. F27. The current trackage in the US is approximately how much lower than it was at its peak?A. 98%B. 11%C. 137%D. 37%E. None of the above28. Currently ton-miles moved by rail per year number approximately:A. 1,850B. 1,850,000C. 2 trillionD. 1,850,000,000E. None of the above29. “Merger Mania” dramatically reduced the number of Class I railroads in the U.S. from _____ to 7.A. 250B. 7C. 106D. 1,247E. None of the above30. The period of deregulation of the railroads began with the:A. Constitution of the USB. The Interstate Commerce actC. The RRRRA of 1976D. The Carmack amendmentE. The Treaty of Versailles31.The Staggers Act was the single most important deregulation legislation at the time . It:• A.Provided greater pricing freedom• B. Streamlined merger timetables• C. Expedited line abandonment process• D. Allowed multi-modal ownership• E. Permitted confidential contracts with shippers• F. All the above32. Which of these are among the remaining Class 1 railroads?A. Milwaukee RoadB. Pennsylvania RailroadC. New York CentralD. BNSFE. D&RGW33. The “profile” of railroading includes which of these:A. “Greener” than truckingB. More fuel efficient than tuckingC. Inflexible service areasD. High capital costsE. All the above34. Which of these are economies of scale that can be created by the rail?A. High speed trainsB. Double stack trainsC. AgrifuelsD. Unit trainsE. B and D35.The fuel consumption of railroad trains is 1 gallon of fuel for 455 ton-milesA. T orb. F36.Principal commodities moved via rail include:A. WoodB. PaperC. Agricultural productsD. CoalE. Chemicalsf. All the above37. Intermodal operators are go-betweens. The parties that are involved with an intermodal movement are usually:A. The railroadB. A local drayage companyC. A long haul truckerD. An Intermodal Marketing CompanyE. All of the aboveF. A, B and D38. The Wright brothers are known for the first manned flight, which took place In Kitty Hawk, NC in:A. 2013B. 1812C. 1776D. 1913E. None of the above39.By 1921 the U.S. had coast-to-coast airmail routes. T or F40. The impact of WWI on US aviation included:A. Spurred commercial development of aviationB. Unemployed pilots, surplus aircraftC. U.S. heavily subsidized air mail (accelerated velocity of money supply)D. A, B and CE. None of the above41. Air’s claim to fame in the transportation arena is:A. InexpensiveB. Very “green”C. SpeedD. Luxurious coach class amenitiesE. All the above42. Air freight specializes in hauling high-value, perishable or emergency cargo T or F43. The % of airline revenue generate by freight is about 12%. T or F44. The Antonov 225 can carry up to about 600,000 pounds of cargo. T or F45. A ULD is a Unit Load Device, the utilization of which benefits the air carrier by:A. Providing more protection to the cargoB. Decreasing the time it takes to “turn around” an aircraftC Reducing the stress on the flight crewD. Creating a classy image for the airlineE. A and B46. Air Freight Forwarders add value to the supply chain in many ways. Those include which of the following?A. Provide door-door serviceB. Buy space in bulkC. Consolidate freightD Issue a single, “through” AWB to cover multiple modes, carriers and segments of the journeyE. All of the above47. In order to manage the yield (revenue) of every flight, airlines use a conversion factor for light, voluminous product to convert the space occupied to an equivalent number of pounds or kilos. Find the chargeable weight of this shipment:1 palletMeasures 30”x25”x40”Weight 128 poundsChargeable weight:A. 128 poundsB. 50 poundsC. 2240 poundsD. 154 poundsE. None of these48. A 747 400 series cargo aircraft can carry approximately 117,000 pounds of freight:A. T orB. F49. In 2011 the USPS generated $65.7 billion in revenue for delivering packages.A. T orB. F50. The air transportation industry accounts for about 500,000 jobs.A. T orB. F