Fred Lost His Factory Job, Replaced by Welding Robots

question 78

Multiple Choice

Fred lost his factory job, replaced by welding robots. He is now going to technical school to learn computer repair because he cannot find a similar job to the one he lost. Fred is:

• A)​Frictionally unemployed.
• B)​Structurally unemployed.
• C)​Cyclically unemployed.
• D)​Not unemployed.

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Definitions:

Cable Subscribers

Customers who pay for cable television services, often provided through a fixed infrastructure of underground or overhead cables.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Price Elasticity

A metric that reveals the extent to which demand for a product fluctuates with price adjustments, highlighting consumer price sensitivity.

Demand Curves

An illustration that depicts the relationship between the price of an item and the quantity demanded by consumers, typically downward sloping.