Question

In \[\mathrm{GVA}_{i}\equiv V_{i}+A_{i}-Z_{i}\], what does \[V_i\] represent?

Options

• Value of intermediate goods used

• Current year's stock

• Value of output of firm \[i\]

• Value of final goods sold

Answer 1

\[V_i\] denotes the value of final goods sold. It is one component of the value of output of firm \[i\].