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Measuring National Income · Question 13 of 69

Question 13

MediumOriginal question

To go from a firm's value of output to its net value added at factor cost, which of these is NOT subtracted?

Options for question 13

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. NVA at FC = value of output − intermediate consumption − depreciation − net indirect taxes.

  2. Wages are paid out of NVA at FC; they are a part of it.

Concept
What value added pays for
Typical time
70 s
Your time
—
The rule this testsValue added method and double counting
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