In Norway, a parent may receive a cash benefit for private childcare for a child between the
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In Norway, a parent may receive a cash benefit for private childcare for a child between the ages of 1 and 2 years if the child does not attend a governmentsubsidized childcare facility. Effective August 1, 2017, the maximum amount of this cash-for-care benefit is \(625 \mathrm{kr}\) per month for a full-time placement, and it is not reduced if the child does not attend every day. If Berit spends \(600 \mathrm{kr}\) for full-time private childcare per month for her 14-month-old child with the cash subsidy of \(625 \mathrm{kr}\), would she be indifferent to receiving the subsidy in the form of a voucher of equal value? Use a diagram to illustrate and explain your answer.
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To analyze whether Berit would be indifferent to receiving the subsidy in the form of a voucher ...View the full answer
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