If in-kind transfers were included in income at their market value, what would happen to the number of families below the poverty line?

The Glass-Steagall Act, before its repeal in 1999, prohibited commercial banks from

A) issuing equity to finance bank expansion. B) engaging in underwriting and dealing of corporate securities. C) selling new issues of government securities. D) purchasing any debt securities.

There are two types of worker, high ability and low ability. High-ability workers generate gross profit of A on the job and low-ability generate nothing. Education does not make workers more productive, but is costly to obtain (cH for high ability workers and cL for low ability ones). Let w be the wage that all firms in the economy pay by regulatory mandate. Suppose the worker obtains utility

given by the wage (if the worker is employed, 0 if not) minus the cost of education (if any). There is no disutility from work. Which condition is required if only the high-ability type is to obtain an education in equilibrium? a. cH < w < cL. b. cL < w < cH. c. cH < cL < w. d. cL < cH < w.