Question

Identify the correct formula which states the relation between GDP and GVA.

A GDP (MP) = ∑ GVA (Basic Prices) + Product Taxes – Product Subsidies
B GDP (MP) = ∑ GVA (Basic Prices) - Product Taxes + Product Subsidies
C GDP (Basic Prices) = ∑ GVA (Market Price) + Product Taxes – Product Subsidies
D GDP (Basic Prices) = ∑ GVA (Market Price) - Product Taxes + Product Subsidies
E None of these
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