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Question

What is Gross Value Added (GVA)?

A A measure of the total value of goods and services produced in an economy, excluding the value of intermediate inputs used in the production process. Correct Answer Incorrect Answer
B A measure of the total value of goods and services produced in an economy, including the value of intermediate inputs used in the production process. Correct Answer Incorrect Answer
C A measure of the total income earned by the residents of an economy. Correct Answer Incorrect Answer
D A measure of the total expenditure incurred by the residents of an economy. Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Gross Value Added (GVA) is a measure of the total value of goods and services produced in an economy, excluding the value of intermediate inputs used in the production process, such as raw materials, utilities, and services. It is a measure of the value added by the various sectors of the economy and is used to assess the economic performance of a country. The GVA of a country can be used to identify the sectors that are driving economic growth, and to evaluate the contribution of different sectors to the overall economic development of the country. Hence, option A is correct.

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