Post Utme Oau 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Oau Economics examination.

Post Utme Oau 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_OAU • 2021 • ECONOMICS • objective

Consider a country with a GDP of ₦10 trillion and a population of 200 million. If the government decides to implement a value-added tax (VAT) of 10% 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
C
Correct Option:
The GDP will remain unchanged.

About This Question

This is Post Utme Oau 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Oau Economics examination.

View More Post Utme Oau 2021 Economics Questions More Post Utme Oau Practice Questions Back to Questions

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