That’s an electric carving knife—the kind people used a lot for slicing roasts, turkey, or even bread.
The long serrated blade (usually actually two blades that move back and forth) attaches to the handheld motor unit. When you turn it on, the blades reciprocate rapidly, making it much easier to cut clean slices without much effort.
They were especially popular from the 1960s–1980s—hence the “black-and-white TV era” comment.
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