New York's personal income tax elasticity is equal to 0.8 and its buoyancy is equal to 1.2. Of the following which would best explain the cause of this difference?

A. The numbers have to be the same, this is an arithmetic error

B. a change in policy, for example a tax rate change led to an increase in revenue.

C. a change in policy, for example a tax rate change led to an decrease in revenue.

D. The state's personal income tax is regressive