Question

State the valid reason, which of the following is true or false:

a), Gross Value Added at market price and Gross Domestic Product at market price are one and the same thing.​

Answer 1

The given statement is false as Gross Domestic Product is the result of sum of Gross Value Added by all the producing units/firms in an economy, during an accounting year.

Answer 2

Find

Gross value added at market price and gross domestic product at market price are one and same thing?

Explanation

Gross domestic product refers to the sum of Gross Values Added of all the firms producing in that particular year in the economy.

Gross value added refers to the sum of value additions by all the firms in an economy in a particular years.

Hence the given statement is false.

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