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? Suppose you observe that teachers who work in high crime districts are paid lower wages. Does this necessarily violate the theory of Compensating Wage Differentials? Why might the slope of the hedonic wage function for exposure to crime might be estimated to be negative even if crime is a disamenity. Please answer this question in 3 sentences or less. 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? Suppose you observe that teachers who work in high crime districts are paid lower wages. Does this necessarily violate the theory of Compensating Wage Differentials? Why might the slope of the hedonic wage function for exposure to crime might be estimated to be negative even if crime is a disamenity. Please answer this question in 3 sentences or less