As the Banking Industry Becomes More and More Automated, Tellers

question 30

Multiple Choice

As the banking industry becomes more and more automated, tellers find themselves with unneeded skills and some of them become unemployed. At the same time, computer programmers are in high demand. These unemployed tellers would be classified as

• A)cyclically unemployed.
• B)frictionally unemployed.
• C)structurally unemployed.
• D)naturally unemployed.
• E)underemployed.

---

Definitions:

Copper Mines

Sites or locations where copper ore is extracted from the earth for commercial value and industrial use.

Global Recession

A period of worldwide economic decline characterized by reduced industrial production, trade, and consumer spending.

Constant Returns

A situation in production where increasing all inputs by a certain proportion results in an increase in outputs by the same proportion.

Isoquants

Curves on a graph that represent combinations of factors of production that yield the same level of output.