Consider the following equations:
- GVA= GDP- taxes on products + subsidies on products
- GDP = Consumption+ Investment + Government Spending + (Export – Import)
Which of the above is/are correct?
Both are correct statements
GVA = GDP – taxes on products + subsidies on products
GDP = Consumption+ Investment+ Government Spending (G) + (Net Exports– Net Imports)
This question is a part of GKToday's Integrated IAS General Studies Module