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Fred Has Lost His Factory Job, Replaced by Welding Robots

question 41

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Fred has lost his factory job, replaced by welding robots, and soon plans to go to technical school to learn computer repair because he cannot find a similar job to the one he lost. The type of unemployment facing Fred is:


Definitions:

Gross Profit Percentage

A financial metric expressing gross profit as a percentage of total sales.

Net Sales

The total sales revenue of a company, minus the returns, allowances for damage or loss, and discounts.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the efficiency of a company in managing its production and supply chain.

Chief Executive Officer

The highest-ranking executive in a company, responsible for making major corporate decisions, managing overall operations, and resources.

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