Economic question…need help badly… gimme some pointers on how to do it…?
Assume that in a household one parent currently works full time and the other stays at home to look after the family. How would u set about identifying and calculating the opprtunity costs of the second parent now taking a fulltime job? how would such calculations be relevant in deciding whether it is worth taking that job?
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I agree with can_prof. In addition to identifying and calculating maid, babysitting/nanny services… you should also include additional transportation costs to and from work, additional car and related cost (insurance, parking), lunch/lattes/other food, new outfits (suits or uniforms, shoes, make-up), etc. Just think of things that the spouse would need or use to go to work and put some value on that item, then use that to off-set if he/she stays home.
What you may add and get some extra points are… some intangibles such as familial responsibilities, less time with children, missing their 1st this and that, shame other pressures brought in from in-laws, church/synagogue, etc. I truly believe that these additional costs though not easily calculated nor easily placed a certain value IS valuable and very important to the family as well as the society. Take care and good luck. Make your mama proud.
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You would need to compute things like child care costs (depending on the ages of the children) and possibly other housework costs which might be purchased rather than provided by the family member, e.g. Molly Maids, take-out meals.
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4 years ago
The economic equipment is in an undesirable state… and it is merely going to get lots lots worse previously we see it getting any further suitable. I snigger to myself while human beings say this is all George Bush’s Fault nevertheless rather. It honestly took extra advantageous than 8 years to get so a techniques and it will take possibly that long or longer to come back to the place we’ve been. in spite of the actuality that unfavourable judgements with the aid of George Bush helped gas the decline in the economic equipment he did no longer do it on my own. i rather have faith we are able to work out the super melancholy off the 1930’s repeat itself. My mom and my grandparents communicate approximately waiting in line for month-to-month rations of issues like sugar, meat, butter, flour or maybe pantyhose that’s something no good women folk left abode with out then. They tell memories approximately how they shared with friends because of the fact my uncle owned a farm and that that they had issues like milk, eggs, chickens and how they ate horse meat because of the fact they did no longer have beef. human beings pulled at the same time to get via with friends and acquaintances. i think of it is one components we lack now a days as human beings, that our relatives contributors had back then human beings regarded out for an further. I a a nurse I coach and cheering at community extreme college and that i stay in Massachusetts. On my thank you to paintings that’s a 17 mile journey there are approximately sixty 5 foreclosed residences…on my thank you to community extreme college 2 and a 0.5 miles away there are 17 foreclosed residences. So the respond on your question is that it is worse than many human beings comprehend..Obama is an sensible guy, an excellent public speaker, and has some super techniques on how he whats usa and the thank you to realize it may he do in in 4 years honestly no longer… can he do it in 8 we ought to continuously start to work out issues getting lots extra suitable with the aid of then…..if the international became into sensible the could re-elect him and at last do what they did for Roosevelt who became into president from 1933 to 1945 and permit Obama to proceed to be in workplace till we are economically good and securely recovered wish this helped
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Well, if you need the money you won’t need a calculator, common sense should tell you what to do.
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