Which of the following scenarios are examples of job separation (i.e., workers who quit or werelaid off) as a result of creative destruction?ExampleA company installs a new accounting system that does all the billing automatically, whichsubsequently shuts down the accounting department.Indeed.com provides an Internet-based job service; as a result, newspaper job offerings shrinkand newspapers lay off workers.McDonalds starts selling a popular new product, the "Quadstack," which causes Burger Kingto lose customers. Burger King then lays off workers.The book retailer Borders laid off 19,000 employees when it went bankrupt in 2011.A regulation is passed that mandates paying workers for 45 days of labor for every year theyare with a firm if they are fired or laid off. The day before the legislation goes into effect, threemillion workers with more than ten years of tenure each are fired.In 2001, there was an economic downturn as a result of a reduction in the valuation of manytech stocks. As a result, companies laid off 1.7 million people.In 1800, over 90% of U.S. workers had jobs in agriculture; by 2017, less than 5% did.Not an Example+

The process whereby current employees become redundant or outdated as a result of technical…

Answered: Which of the following scenarios are…

Which of the following scenarios are examples of job separation (i.e., workers who quit or were laid off) as a result of creative destruction?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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