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?
A. 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.
B. In 1800, over 90% of U. S. workers had jobs in agriculture; by 2017, less than 5% did.
C. 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.
D. The book retailer Borders laid off 19,000 employees when it went bankrupt in 2011.
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