This flowchart explains the transformation in National Income:
flowchart TD
Gross -->|"− Depreciation"| Net
Domestic -->|"+ NFIA"| Nat["National"]
Product -->|"stays the same"| P2["Product"]
Factor-Cost -->|"+ Net Taxes − Subsidies"| Market-Price
The aswer is: (A) - (I), (B) - (II), (C) - (IV), (D) - (III)
Note: Gross Value Added at Market Prices is equivalent to Gross Domestic Product at Market Prices.
GVA is simply another way to express GDP, representing the total value added by all sectors of the economy.