Post Utme Bells University 2023 Economics Question 19

Practice objective / multiple choice question 19 from the 2023 Post Utme Bells University Economics examination.

Post Utme Bells University 2023 Economics Objective / Multiple Choice

Question 19 POST_UTME_BELLS_UNIVERSITY • 2023 • ECONOMICS • objective

Consider a country with a GDP of ₦10 trillion and a population of 200 million. If the government decides to implement a 10% value-added tax (VAT) on all goods and services, what will be the impact on the country's GDP?

Answer Options

A. The GDP will increase by 10%.

B. The GDP will decrease by 10%.

Correct Answer C. The GDP will remain unchanged.

D. The GDP will increase by 20%.

Correct Answer

Correct Option:

The GDP will remain unchanged.

About This Question

This is Post Utme Bells University 2023 Economics Question 19. It is one of the objective questions from the 2023 Post Utme Bells University Economics examination.

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