At the start of the year, Group L has a lower average income and lower average wealth than Group H. The table shows the changes recorded by a household survey during the year.
| Household group | Change in average annual income | Change in average wealth |
|---|---|---|
| Group L | +2% | +1% |
| Group H | +12% | +15% |
Which change in inequality is most likely to have occurred during the year?
Income inequality decreased but wealth inequality increased.
Income inequality and wealth inequality both decreased.
Income inequality increased but wealth inequality decreased.
Income inequality and wealth inequality both increased.
189 exam-style questions on AQA GCSE Economics 2.2 Government objectives, covering 2.2.1a The main economic objectives, 2.2.1b Conflicts between government objectives, 2.2.1c Other objectives and ethical considerations, 2.2.2a The significance of economic growth, 2.2.2b Causes, costs, benefits and policies for growth, 2.2.2c GDP measures and calculations, 2.2.3a Measuring employment and unemployment, 2.2.3b Types and causes of unemployment, 2.2.3c Consequences and policies for unemployment, 2.2.4a What inflation is, 2.2.4b Measuring inflation with the CPI, 2.2.4c Causes, consequences and control of inflation, 2.2.5a Balance of trade and balance of payments, 2.2.5b Current account surpluses and deficits, 2.2.5c Policies to influence the balance of payments, 2.2.6a Income and wealth inequality in the UK, 2.2.6b Causes and consequences of inequality, and 2.2.6c Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.