A decrease in tax to GDP ratio of a country indicates which of the following? 1. Slowing economic growth rate 2. Less equitable distribution of national income Select the correct answer using the code given below.
a
1 only
b
2 only
c
Both 1 and 2
d
Neither 1 nor 2
Public FinanceFiscal Indicatorstax to GDP ratiodecreaseslowing economic growth rateless equitable distribution of national incomefiscal policytax revenue