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Consider the following statements Tax buoyancyand Tax Elasticity: Tax Elasticity refers to the responsiveness of tax revenue growth to changes in GDP. Tax buoyancyrefers to changes in tax revenue in response to changes in tax rate.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements Tax buoyancyand Tax Elasticity: Tax Elasticity refers to the responsiveness of tax revenue growth to changes in GDP. Tax buoyancyrefers to changes in tax revenue in response to changes in tax rate.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements Tax buoyancyand Tax Elasticity: Tax Elasticity refers to the responsiveness of tax revenue growth to changes in GDP. Tax buoyancyrefers to changes in tax revenue in response to changes in tax rate.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.

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