Post Utme Unilorin 2019 Economics Question 19

Practice objective / multiple choice question 19 from the 2019 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2019 Economics Objective / Multiple Choice
Question 19 POST_UTME_UNILORIN • 2019 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy to increase revenue. The policy includes a 10% tax on all goods and services. U\sing the concept of tax incidence, explain how this tax will affect the consumers and producers of goods and services.

Answer Options

A. The consumers will bear the entire burden of the tax.
B. The producers will bear the entire burden of the tax.
Correct Answer C. The consumers and producers will share the burden of the tax equally.
D. The tax will have no effect on the consumers and producers.
Correct Answer
C
Correct Option:
The consumers and producers will share the burden of the tax equally.

About This Question

This is Post Utme Unilorin 2019 Economics Question 19. It is one of the objective questions from the 2019 Post Utme Unilorin Economics examination.

View More Post Utme Unilorin 2019 Economics Questions More Post Utme Unilorin 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