Question : Which of the following formulas is correct for Gross Value Added(GVA)?
Option 1: (GVA) = Gross National Product – Subsidies + Taxes
Option 2: GVA= Gross Domestic Product – Subsidies + Taxes
Option 3: GVA = Gross National Product + Subsidies – Taxes
Option 4: GVA = Gross Domestic Product + Subsidies – Taxes
Correct Answer: GVA = Gross Domestic Product + Subsidies – Taxes
Solution : The correct answer is GVA = Gross Domestic Product + Subsidies – Taxes.
The calculation of gross value added (GVA) involves subtracting intermediate consumption (at purchaser prices) from output (at basic prices).
A measure of economic production called gross value added (GVA) determines how much a corporation, municipality, or producer contributes to a particular economy, sector, or area.
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