Post Utme Al Hikmah University 2021 Economics Question 21
Practice objective / multiple choice question 21 from the 2021 Post Utme Al Hikmah University Economics examination.
The Nigerian government has introduced a new tax policy aimed at reducing income inequality. The policy involves a progressive tax system where the tax rate increases as income increases. If the tax rate is 10% for income up to ₦100,000, 20% for income between ₦100,001 and ₦200,000, and 30% for income above ₦200,000, what is the tax liability for an individual with an income of ₦250,000?
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This is Post Utme Al Hikmah University 2021 Economics Question 21. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.
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