Economics · National Income Accounting
Which of the following formulas is correct for calculating Gross Value Added (GVA) at basic prices?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Gross Value Added = Gross Domestic Product + Subsidies – Taxes on Products✓
- 2Gross Value Added = Gross National Product + Subsidies – Taxes
- 3Gross Value Added = Gross Domestic Product – Subsidies + Taxes
- 4Gross Value Added = Gross National Product – Subsidies + Taxes
Correct answer
Gross Value Added = Gross Domestic Product + Subsidies – Taxes on Products
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