If there are N firms in the economy, eac

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Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Question:

If there are N firms in the economy, each assigned with a serial number from 1 to N, then as per the product method, GDP can be written as ______.

Options:

GVA₁ – GVA₂ ..... – GVA_N

NVA₁ + NVA₂ ..... + NVA_N

GVA₁ + GVA₂ ..... + GVA_N

GVA₁ + NVA₂ + GVA₃ + NVA₄.........

Correct Answer:

GVA₁ + GVA₂ ..... + GVA_N