Post Utme Abu 2018 Economics Question 26
Practice objective / multiple choice question 26 from the 2018 Post Utme Abu Economics examination.
The government of a country has decided to implement a new tax policy to reduce income inequality. The tax policy involves a progressive tax system where the tax rate increases as the income level increases. The tax rates are as follows: 10% for income up to ₦100,000, 20% for income between ₦100,001 and ₦200,000, and 30% for income above ₦200,000. If a person has an income of ₦250,000, how much tax will they pay?
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About This Question
This is Post Utme Abu 2018 Economics Question 26. It is one of the objective questions from the 2018 Post Utme Abu Economics examination.
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