Saved Bookmarks
| 1. |
State with valid reason, which of the following statement is true or false: a. Gross Value Added at market price and Gross Domestic Product at market price are one and the same thing. b. Intermediate goods are always durable in nature. |
|
Answer» a. 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. b. The given statement is false as intermediate goods are generally non-durable in nature. They are the goods used as raw material and they lose their identity in the production process for the creation of a new commodity, during an accounting year. |
|