TIL 3310: Quizzes

Advantages to globalization include:

Lower prices

Wider availability of goods and services

New employment opportunities

All of these are correct.

The top importer in the world is:

U. S.

Adam Smith wrote a book entitled:

Wealth of Nations

The volume of global trade over the course of the last 50 years has:

Doubled

One effective method to reduce the bullwhip effect in a supply chain is to replace inventory with:

Information

What positive outcomes have occurred in the global economy with increase interdependence:

Lower prices

Wider availability of goods

New employment opportunities

All of these are correct

Cash flow is important to organizations producing products for sale because it:

Reduces the need for working capital

There was spectacular growth in global trends after 1990. Why?

Greater acceptance of foreign produced manufactured products.

Which of the following countries are in the BRIC?

Brazil, Russia, India, and China

Which of the following is consistent with a green supply chain strategy?

Reduce packaging materials

What does the right of eminent domain mean?

The government can seize your property for public use

What was the primary reason for the creation of the U. S. interstate roadway system?

defense

Based upon Lardnerâ s Law, if transportation costs decreased by a factor of 2, how much does the relevant market area increase?

200%

Demand for transportation at the macro is _______, while demand for transportation at the micro level is _______?

inelastic, elastic

The Mississippi River is regarded as an important avenue for commerce in the U. S. because:

It is a major transportation artery

What is the usual demand metric for freight?

Ton-mile

Ozone reduction is a concern due to what compound used in refrigeration?

chlorofluorocarbons

Transportation systems are critical to industrialized societies because?

They allow producers to expand their market areas

A transportation shipment of 75 tons for 125 miles would be:

9375 ton-miles

In terms of average house hold expenses, transportation is:

Second

Typical TMS execution functionality includes:

Load planning

Appointments

Regulations

None of these is correct.

To be relevant, information must be up to date and available in a reasonable time frame. This is called _________ of information.

timeliness

Which of the following is a trucking equipment innovation that can improve fuel efficiency?

Trailer skirts

Trailer tails

Gap reducers

All of these are correct.

Many believe that next generation transportation management systems will:

Harness the power of business analytics tools

Various studies indicate that cost savings from a TMS helps an organization reduce freight costs by____:

6% to 10%

Efforts are underway to take many of the routine operator tasks in transportation and ___________.

turn them over to computers

A LIDAR system uses which of the following?

A pulsed laser

One reason autonomous transportation makes sense for the trucking industry is:

High driver turnover

The engagement of multiple stakeholders in transportation planning drives the need for _____________.

multidirectional information flows across a network

Blockchain has the ability to:

Reduce documentation in the supply chain

Reduce cost in the supply chain

Increase processing times within transportation

All of these are correct.

Under transportation regulation, the amount found in a Tariff as payment to a carrier for performing a given transport service is called a:

rate

Price is a concept relating to how post-deregulation transportation firms determine and impose charges for their services. Which is a distinguishing feature of this concept of price?

a value or level that is determined based on prevailing market forces

The basic types of rates are class, exception and:

Commodity

Value of service pricing is best defined as:

Pricing based upon what the traffic will bear

Three necessary conditions must be met before a seller can practice third-degree price discrimination. The conditions are: 1) buyers must be separated into groups or submarkets according to their elasticities of demand, 2) the seller must possess some degree of monopoly power, and 3):

the seller must prevent transfer of sales between the groups or submarkets.

How is the Relevant Market Structure in transportation described?

by identifying the relevant market area for one commodity moving between two points

Which is correct regarding value-of-service pricing?

the model considers the ability of the commodity to bear a charge

The type of cost created from a situation where the production of one service necessarily entails the production of another service is known as a:

common cost.

There are two separate concepts in Cost of Service pricing. They are:

prices based on average or marginal cost

Carrier pricing decisions fall into three categories. The categories are setting prices for a new service, modifying prices over time, and:

responding to price changes.

Private carriers tend to have greater:

Control and flexibility

What is the primary division between motor carriers?

For hire and private

What is one of the primary reasons for the growth of trucking after World War II?

The Interstate Highway System was constructed which allowed trucks to give faster service over longer distances.

What is the status of competition within the motor carrier industry?

The industry is highly competitive with competition between all carriers as well as with firms such as United Parcel Service and FedEx

What is one of the service characteristics of the trucking industry?

Trucks have a speed advantage for shipments less than 500 miles

What do the users of truck service benefit from?

lower inventory levels due to smaller shipments that other modes

What type of trailer can be coupled in twos and threes?

28 foot

The trucking industry is characterized as having:

high variable and low fixed costs

What of the following is not one of the current issues facing the trucking industry in the future?

Highway construction with its resultant delays

Which agency within the Department of Transportation governs specifications of trucks such as number of lights, tires and other operating parts?

Federal Motor Carrier Safety Administration

What is the standard track gauge in the U.S?

4 Foot 8.5 Inches

How many Class 1 rail companies are there?

7

The basic unit of measurement for railroad freight handling is known as the:

Carload

One of the benefits of a railroad merger is:

less frequent interchanges between companies means faster service

What was the purpose of the legislation which created Amtrak?

It relieved railroads from the responsibility of providing passenger service

Which best characterizes the short-run cost structure of the railroads?

large proportion of indirect fixed costs

What is the major cost element of the railroad?

operation and maintenance of rights

Which type of railroad car has the greatest numbers in service?

covered hopper

Railroads are:

more energy efficient than most other modes

In 2013, railroads transported what percentage of all intercity ton miles moved by all modes?

9.4 percent