Practicing Success
Identify the correct statements: (A) Stocks are defined over a period of time. Choose the correct answer from the options given below: |
(A), (C) and (E) only (B), (C) and (D) only (B), (D) and (E) only (C), (D) and (E) only |
(B), (D) and (E) only |
The correct answer is Option (3) → (B), (D) and (E) only Let's break down each statement: (A) Stocks are defined over a period of time. - This statement is incorrect. Stocks are quantities measured at a specific point in time. (B) Flows are defined over a period of time. - This statement is correct. Flows represent quantities that occur over a period of time, like income or expenditure. (C) Flows are defined at a particular point of time. - This statement is incorrect. Flows occur over a period of time. (D) Stocks are defined at a particular point of time. - This statement is correct. Stocks represent quantities measured at a specific point in time, like inventory levels or wealth. (E) GVA at factor costs + Indirect Taxes = Subsidies + GVA at market prices. - This statement is correct. Thus, GVA at factor costs + Indirect Taxes - Subsidies = GVA at market prices. |