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? Example Drag appropriate answer(s) here In 1800, over 90% of U.S. workers had jobs in agriculture; by 2017, less than 5% did. McDonalds starts selling a popular new product, the "Quadstack," which causes Burger King to lose customers. Burger King then lays off workers. In 2001, there was an economic downturn as a result of a reduction in the valuation of many tech stocks. As a result, companies laid off 1.7 million people. A company installs a new accounting system that does all the billing automatically, which subsequently shuts down the accounting department. Indeed.com provides an Internet-based job service; as a result, newspaper job offerings shrink and newspapers lay 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 they are with a firm if they are fired or laid off. The day before the legislation goes into effect, three million workers with more than ten years of tenure each are fired
