Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
How can increasing the tax rate help the government to deal with the aging problem?
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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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