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

Understand the concepts of independent and dependent variables and their roles in experiments.

Recognize the advantages and disadvantages of survey research.

Identify alternatives to random assignment in experiments.

Explain how confounding variables affect internal validity in experiments.

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Definitions:

Entries

Refers to individual records of financial transactions in accounting, documented in journals and ledgers.

Check

A written, dated, and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.

Salaries

Regular payments made to employees for their labor or service, typically expressed as an annual amount but often paid on a monthly or bi-weekly basis.

Adjusting Journal Entry

An accounting record entered at the closing of a financial period to distribute profits and losses to the correct period.