Post Utme Lautech 2018 Economics Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Lautech Economics examination.

Post Utme Lautech 2018 Economics Objective / Multiple Choice
Question 1 POST_UTME_LAUTECH • 2018 • ECONOMICS • objective

A country's government decides to implement a new tax on imports to reduce its budget deficit. If the tax rate is 15% and the import value is ₦100 billion, what is the amount of tax collected?

Answer Options

Correct Answer A. ₦15 billion
B. ₦1.5 billion
C. ₦15 million
D. ₦1.5 million
Correct Answer
A
Correct Option:
₦15 billion

About This Question

This is Post Utme Lautech 2018 Economics Question 1. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support