Australia = High minimum wage (13.2) Hong Kong = Low minimum wage (4.2)
Australian McDonalds - Touchscreen machines for ordering Hong Kong McDonalds - No touchscreen Machines
Can employees afford being paid only $10 an hour? Probably not. Is paying $10 an hour to employees a smart long term decision for McDonalds? Probably not.
A or B will increase the company's profit(for a while..), but then that will lead to higher unemployment rate, which will cause less people to buy McDonald(thus less profit, but before that the Western's economy will collapse).C is just increase the cost by 1 cent(right?).D is the most efficient solution.E is the least risky.F is abandon fiat currency and giving the employee food and drinks as wages
The Labor Bureau Statistics only include ppl who are seeking jobs. It does not include ppl who have quit looking for a job. Labor participation rate is much better than unemployment rate.