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Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: National Income Accounting

Question:

Which of the following is correct?

Options:

GVA at basic prices =  GVA at factor costs + Net product taxes 

GVA at market prices = GVA at basic prices + Net production taxes 

CSO releases GVA at basic prices in India

All of the above

Correct Answer:

CSO releases GVA at basic prices in India

Explanation:

The correct answer is option 3: CSO releases GVA at basic prices in India

GVA at basic prices =  GVA at factor costs + Net production taxes (NOT Net product taxes)

GVA at market prices  = GVA at basic prices + Net product taxes  (NOT Net production taxes)

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