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... For example when to go to school, what time to go, what to eat, studying, or playing, or spending your money and for this reason economists examine all these pronouncements they all have an effect on the economy. ... ‘In the United States, for example, each year of schooling raises wages by about 8 percent (Krueger 1993). ... Usually, the choice of staying at school and take ‘A’ levels and then going to university, gives the wrong impression. ... For example, attending business school may require substantial expenditures in the present and then yield returns many years in the future. ... 148) In our case, this person has to decide whether to stay at school and then to go to university or to find a job and receive a salary. He also has to decide either to spend money for the school and the university and when he finally completes his studies to earn higher amounts of wage, or to receive a lower amount of wage nowadays. ... 149)
Additionally, we can say that the16 year old boy will earn less money if he don’t invest for school and university but there is investment in human capital, the boy can earn more in youth than in childhood. ... The utility of the 16-year-old boy can be affected by his consumption of substantial products and also by psychological outlook, peer group pressures, personal familiarity and the general cultural background. ... This point gives to the boy the supreme possible set of consumption chances.
Approximate Word count = 1278
Approximate Pages = 5.1
(250 words per page double spaced)
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