Question : Value added = Value of output - ? 

Option 1: Intermediate consumption.

Option 2: Sales

Option 3: Change in stock

Option 4: All of the above

Question : __________________ refers to market value of all goods and services produced during a period of time.

Option 1: Value added

Option 2: Value of output

Option 3: GVA at MP

Option 4: NVA at FC

Question : Aggregate supply refers to __________________.
 

Option 1: Actual output 
 

Option 2: Desired output 
 

Option 3: Both of the above
 

Option 4: None of the above 
 

Question : In the product method for measurement of national income, we need to deduct the value of intermediate goods to ____.

Option 1: analyse factors of production

Option 2: avoid over consumption

Option 3: avoid double counting

Option 4: estimate aggregate value of expenditure

Question : Production refers to 

Option 1: Destruction of utility.

Option 2: Creation of utility .

Option 3: Exchange value .

Option 4: Use of a product.