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

Question : If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value of the aggregate amount of goods and services produced by the economy in a year. Such an estimate is called ______.

Option 1: Net national product

Option 2: National income at factor price

Option 3: Net value added

Option 4: Gross domestic product

Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.

Option 1: Gross domestic product

Option 2: National income

Option 3: Private income

Option 4: Net national product

Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

Option 1: Gross margin

Option 2: Gross Domestic Product (GDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)

Question : National income received by the households is called_____.

Option 1: domestic income

Option 2: professional income

Option 3: personal income

Option 4: disposable income