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Nancy is deciding on an optimal schooling strategy. She currently has zero years of schoolingand knows she will live for 60 more years. In any given year she can either choose to add toher current level of schooling or she can work. If she decides to work, she will have an annualsalary of √S, where S is her current level of schooling (measured in years of schooling). Ifshe decides to go to school, she will not have any income during that year, but her schooling
1level will increase by 1 year. Schooling is otherwise free. Nancy's discount rate is r = 0.Nancy's objective is to maximize lifetime income.
1. What is Nancy's lifetime income as a function of her level of schooling, S?
2. What is Nancy's lifetime income if she gets no schooling? What is it if she goes toschool for all 60 remaining years of her life? In words, describe the "cost" to Nancy ofchoosing to attend school for 1 additional year.
3. Determine Nancy's optimal schooling level.
4. During which part of Nancy's remaining life will she get her schooling?
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In the late 1990s, several East Asian economies had their currencies pegged to the U. S. dollar. Suppose there is an economic boom in the United States that leads to an increase in U. S. interest rates.
Find (algebraically) consumer’sAutility maximizing (optimal) combination of Qax and Qay. At this point compute the level of utility enjoyed by consumer A.
during the period 2006 through 2010 housing production in the united states fell from a rate of over 2.27 million
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case. Explain.
consider the market for smart-phones with two dominant players applea iphone4s and samsungs galaxy. these smart phones
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulate..
A salvage value of $23,000 was realized when the process was discontinued after 8 years. What rate of return did the company make on the process?
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area?
Why is it so hard for actively managed funds to generate higher rates of return than passively managed index funds having similar levels of risk?
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