A government implements a fiscal reform package that abolishes capital gains tax and inheritance tax, while raising the standard rate of Value Added Tax (VAT) and increasing flat-rate public transport fares.
Distinguish between equity and equality and explain the effects of this fiscal reform package on both equity and equality.
76 exam-style questions on AQA A Level Economics 1.7 The distribution of income and wealth: poverty and inequality (A-level only), covering 1.7.1 The distribution of income and wealth, 1.7.2 The problem of poverty, and 1.7.3 Government policies to alleviate poverty and to influence the distribution of income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.