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Supply-Side Policy Tools and the Long-Run Aggregate Supply Curve Quiz
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Supply-Side Policy Tools and the Long-Run Aggregate Supply Curve Quiz

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Questions and Answers

Which one of these is true about VAT and GST?

  • VAT is only applicable in France, while GST is only applicable in Pakistan.
  • VAT and GST are both ad valorem taxes. (correct)
  • VAT is based on a fixed amount per product, while GST is based on a percentage of the price.
  • Both VAT and GST are direct taxes.

    • What was the standard rate of VAT in France in 2019?

  • 20% (correct)
  • 15%
  • 25%
  • 10%

    • What was the standard rate of GST in Pakistan?

  • 12%
  • 15%
  • 10%
  • 17% (correct)

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