The 'Gross Value Added' at basic prices for an enterprise equals: MCQ with Answer and Explanation

Question

Share Report Error

The 'Gross Value Added' at basic prices for an enterprise equals:

A. output plus subsidies

B. sales plus profits

C. output minus intermediate consumption

D. output plus taxes

Answer: Option C

Solution (By JKSSB Mock Tests)

GVA = output minus intermediate consumption.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' was first proposed in India by:

A. Kelkar Task Force on FRBM? Actually Chelliah Committee

B. RBI

C. Narasimham Committee

D. Gadgil Committee

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
GST was first proposed by the Chelliah Committee on tax reforms, not Kelkar.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Sovereign Wealth Fund' is a state-owned investment fund that invests in:

A. various financial assets including equities and real estate

B. only gold

C. only government bonds

D. only domestic infrastructure

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Sovereign wealth funds invest in financial assets such as equities, bonds and real estate.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on IT-enabled services is:

A. 5%

B. 12%

C. 18%

D. 28%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
IT-enabled services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs