Y7

Consider a 2-period model where individuals can either go to school or work in Period 1. and everyone works in period 2. Pay for those without education Is PO per period, and pay is P1 for those with education. What is the total gross income (no costs, not discounted) earned over both periods if a person DOES NOT go to school in the first period? What is the total gross income (no costs, not discounted) earned over both periods if a person DOES go to school In the first period