A
GDP = GVA + (Indirect Taxes - Subsidies)
B
GDP = GVA - (Indirect Taxes + Subsidies)
C
GDP = GVA + (Subsidies - Indirect Taxes)
D
GDP = GVA × Inflation Deflator
Correct answer: (a) GDP = GVA + (Indirect Taxes - Subsidies)
Explanation
Option A is correct: GDP at market prices is calculated by adding Net Indirect Taxes (Indirect Taxes minus Subsidies) to Gross Value Added (GVA) at basic prices. Options B, C, and D reflect incorrect formulas.
Same topic · past papers
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