What economic metric measures the contribution to the economy of an individual producer, industry, or sector by subtracting intermediate consumption from gross output?
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Gross value added
Gross Value Added (GVA) measures the contribution to an economy of an individual producer, industry, or sector. It is calculated by taking the value of goods produced and subtracting the cost of all inputs and raw materials used.
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- What economic metric is calculated by subtracting the value of intermediate goods and services consumed from the value of output?