DAILY WISDOM TEST-THE PT QUEST 2020 Date:- (29-07-2020) Question-1 The correct Answers is Answer: c) Explanation: • The National Small Savings Fund is part of Public Account of India. Question-2 The correct Answers is Answer: c) Explanation: • Statement 1 is incorrect: Nominal GDP is simply the value of GDP at the current prevailing prices. • Statement 2 is incorrect: Real GDP is calculated in a way such that the goods and services are evaluated at some constant set of prices (or constant prices). For that purpose, base year is fixed and updated from time to time. Question-3 The correct Answers is Answer: a) Explanation: • Statement 1 is correct: Lorenz curve is used to calculate the Gini coefficient which is the numerical indicator of inequality in a country. • Statement 2 is incorrect :For perfectly equal distribution, a Gini coefficient value would be equal to zero . It scale is from 0-1. Question-4 The correct Answers is Answer: c) Explanation: • Direct taxes like wealt
