-Refer to Exhibit 11-5 Which Summarizes the Situation Prior to the Value

question 60

Multiple Choice

-Refer to Exhibit 11-5 which summarizes the situation prior to the value added tax (VAT) .If the government imposes a VAT rate of 10 percent,the government will receive ___________ in VAT revenue per loaf of bread sold and the final consumer will find that he has to pay _______________ more for a loaf of bread than he did prior to the VAT tax.

• A) $0.25; $2.53
• B) $0.11; $2.75
• C) $0.25; $0.25
• D) $0.03; $2.75

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