Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter16: Government Spends, Collects, And Owes
Section: Chapter Questions
Problem 16AA
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Question
How can increasing the tax rate help the government to deal with the aging problem?
Expert Solution
Step 1
Ageing population means that there is a fall in the fertility rate or the birth rate accompanied by the rise in the life expectancy which leads to fewer working age population & high dependency ratio. Raising the tax rate can help the nation to deal with this problem.
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