Final answer:
The shipping documentation used in railroad transportation is known as a bill of lading or waybill. It serves as a legal document that provides detailed information about the shipped goods and their movement for the purpose of tracking and assessing trade.
Step-by-step explanation:
The term for shipping documentation carried on railroad transportation is often referred to as a bill of lading or waybill. This documentation is crucial for the transportation industry as it serves as a legal document between the shipper and the carrier, outlines the type, quantity, and destination of the goods being transported, and can also serve as a receipt of shipment when the goods are delivered. In past decades, tracking the movement of goods via different modes of transportation like planes, trains, and trucks was essential for measuring the balance of trade. Such measurement is of economic importance as it helps in assessing the exchange of goods between countries and understanding the economic activity related to global trade.