Waec Model Questions Vol1 2024 Economics Question 36
Practice objective / multiple choice question 36 from the 2024 Waec Model Questions Vol1 Economics examination.
The government imposes an income tax with two brackets: 10% on the first ₦500,000 of an individual's income and 20% on any income above that amount. The average taxable income per person is ₦800,000 and the population is 2,000,000. The government is considering raising the lower‑bracket rate to 12% while keeping the upper‑bracket rate at 20%. By what percentage will total tax revenue change?
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 36. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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