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Jane is trying to decide which of three career paths to pursue. The first one requires one year of training at a cost of $10,000. The second requires two years of training at a cost of $7,000 per year. The third requires four years of training at a cost of $4,000 per year. If she opts for career path one she can work for five years after training is completed earning an incremental wage rate of $2,000 in year 1, $3,000 in year 2, $3500 in year 3, $4,000 in years 4 and $5,000 in year 5. If she elects career path two she will earn an incremental $9,000 the first year after training is completed and $8,000 the second year after training is completed and $4,000 the third year after training is completed. She will only have incremental earnings for three years after training if she elects career path 2. If she opts for career path three she will have incremental earnings of $6,000 per year for each of the five years after training is completed. After this time she will have no incremental earnings.
a. Assuming the first year of training is not to be discounted. Calculate the present value of the costs and the present value of the benefits of each career path assuming an interest rate of 3% and then again at an interest rate of 10%. Which of the career paths should she pursue under each interest rate?
Taking business personally, Recognize some policy change that you propose to decrease the federal government budget deficits and debt.
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Write a report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities.
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Assume that a simple society has economy with only one resource, labor. Labor can be employed to produce only two commodities- X, a necessity good (food) and Y, a luxury good ( music and entertainment). Assume the economy produced at a point inside..
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
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What is the group preference and what is the group choice according to the Borda count rule? Please justify your answers.
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