SHORT ANSWER – Please provide a two to three sentence answer to each question.

1. The main objective of deregulation in transportation was?

2. An oligopoly can be defined as:

3. What the primary mission of the Federal Motor Carrier Safety Administration?

ESSAY – (Please select two of the following questions and provide a one to three paragraph response)

1. What is the role of industry associations in connection with transportation policy development?

2. Transportation project planning is described as a public activity where purely financial return is not the overriding benefit to be attained. Give the reasons why this activity is a major part of the public activity in the U.S. economy.

3. Transportation safety continues to receive significant government attention. Is this linked to economic deregulation? Explain your answer. What is the intent of federal safety regulations?

4. Distinguish between the terms "rates" and "price" as relates to transportation?

5. Define and discuss Cost of Service Pricing.

6. What is the current status of rates under deregulation?