Asked by Jacob Beyers on May 06, 2024
Verified
Recently,banking has become easier with automated teller machines replacing bank tellers.The loss of tellers' jobs is an example of _____.
A) cyclical unemployment
B) structural unemployment
C) frictional unemployment
D) underemployment
E) voluntary unemployment
Structural Unemployment
The loss of jobs stemming from changes in industrial setups, usually driven by innovations in technology, instead of shifts in market demand or supply.
Bank Tellers
Employees of banks who deal directly with customers, handling transactions and other financial inquiries.
Automated Teller Machines
Electronic banking outlets that allow customers to complete transactions without the need for a branch representative or teller.
- Distinguish among various forms of unemployment.
- Assess the influence of unique situations and changes in market demand on unemployment rates.
Verified Answer
MJ
Mario JimenezMay 08, 2024
Final Answer :
B
Explanation :
Structural unemployment refers to job losses caused by changes in technology, market demand, or other lasting factors that make certain skills or occupations less in demand. The replacement of bank tellers by automated teller machines is a clear example of structural unemployment.
Learning Objectives
- Distinguish among various forms of unemployment.
- Assess the influence of unique situations and changes in market demand on unemployment rates.