Post Utme Joseph Ayo Babalola University 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2021 Economics Objective / Multiple Choice
Question 3 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2021 • ECONOMICS • objective

The Nigerian government has introduced a new tax policy to increase revenue. The policy includes a 10% increase in the value-added tax (VAT) rate. Which of the following is a likely consequence of this policy?

Answer Options

Correct Answer A. An increase in the price of goods and services
B. A decrease in the price of goods and services
C. No change in the price of goods and services
D. An increase in the revenue of the government
Correct Answer
A
Correct Option:
An increase in the price of goods and services

About This Question

This is Post Utme Joseph Ayo Babalola University 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Joseph Ayo Babalola University Economics examination.

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