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5. Joe is considering becoming a certified accountant, which costs $10,000. There is no discounting (r=0). Joe faces the following labor market options: a. If
5. Joe is considering becoming a certified accountant, which costs $10,000. There is no discounting (r=0). Joe faces the following labor market options: a. If this were a two-period model where Joe can become certified (or work) in period 1 and work in period 2, would he become certified? b. Still assuming no discounting, suppose there were 4 periods. Again, Joe can become certified (or work) in period 1 and then work in periods 24. Now would he get the degree? 5. Joe is considering becoming a certified accountant, which costs $10,000. There is no discounting (r=0). Joe faces the following labor market options: a. If this were a two-period model where Joe can become certified (or work) in period 1 and work in period 2, would he become certified? b. Still assuming no discounting, suppose there were 4 periods. Again, Joe can become certified (or work) in period 1 and then work in periods 24. Now would he get the degree
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