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Changes in technology have historically affected employment because some tasks are done more accurately and easily than people can do them. Repetitive tasks are boring and hard on the human body--look at carpal tunnel issues and others. Henry Ford set up one of the first assembly lines, which increased employment around Detroit in the early 1900s. Many of the employees worked there their entire lives. But, as the auto business changed (for one thing, they last longer), then the employees had to learn new skills or change jobs, depending on the situation. More computer-aided devices on cars, different materials (steel vs fiberglass), and so on make a difference. People have to exercise more flexibility in their work lives as well as becoming life long learners.
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Disadvantages of free trade?
increases competition increase unemployment economic restructuring increases competition increase unemployment economic restructuring
What did trade fairs do?
Trade fairs were used to market and increase awareness of new technology. In the days before mass media, it was difficult for people to know what advances were being made.
What always takes place when technology advances?
Technological advancements improve results.
What are the automatic stabilizers in the economy?
Unemployment benefits and taxation. These are 'automatic stabilizers', because they vary with the business cycle. In a boom period, taxes will increase, and unemployment benefits will fall; whereas during a downswing/ recession, taxes will fall and unemployment benefits will increase.
When would the government most likely increase its spending?
When unemployment has increased
