Jill is planning the timing of her on-the-job training investments over the life cycle. What happens to

Question:

Jill is planning the timing of her on-the-job training investments over the life cycle. What happens to Jill's OJT investments at every age if
(a) The market-determined rental rate to an efficiency unit falls?
(b) Jill's increases?
(c) The government passes legislation delaying the retirement age until age 70.
(d) Technological progress is such that much of the OJT acquired at any given age becomes obsolete within the next 10 years.
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...