Suppose That McDonald's Successfully Implements Self-Serve Kiosks in Their Restaurants,and

question 153

Multiple Choice

Suppose that McDonald's successfully implements self-serve kiosks in their restaurants,and this investment in technology allows the company to reduce the number of employees at each location.All else equal,this technological improvement would ________ the equilibrium price for its products and ________ the equilibrium quantity consumed.

• A)increase; increase
• B)increase; decrease
• C)decrease; increase
• D)decrease; decrease

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Definitions:

Global Stratification

The hierarchical arrangement of individuals and countries around the world, according to socioeconomic status, power, and wealth.

International Telecommunication

Refers to the global exchange of information through electronic means, such as phone calls, emails, and satellite broadcasts.

International Trade

The exchange of goods and services across international borders or territories.

Foreign Aid

Is financial, technical, or material assistance given by one country to another, usually for developmental purposes or humanitarian aid.