Which of the following is a characteristic of a dualistic economy? MCQ with Answer and Explanation

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Which of the following is a characteristic of a dualistic economy?

A. Uniform technology across sectors

B. Absence of informal sector

C. Coexistence of modern and traditional sectors

D. Only agricultural activities

Answer: Option C

Solution (By JKSSB Mock Tests)

Dualism refers to the coexistence of a modern, capital-intensive sector alongside a traditional, labour-intensive sector within the same economy.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'core inflation' was coined because it excludes items with:

A. high price volatility such as food and fuel

B. high tax rates

C. high weight in CPI

D. high import content

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Correct Answer: Option A

Explanation:
Core inflation excludes volatile food and fuel prices to reveal underlying inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

M0 in India is also known as:

A. broad money

B. high-powered money plus time deposits

C. reserve money

D. narrow money

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Correct Answer: Option C

Explanation:
M0 is reserve money or high-powered money, comprising currency in circulation plus bankers' deposits with RBI and other deposits.

This question belongs to: Economy GK Economy Set 1

Question #3

Minimum Alternate Tax is levied on companies that:

A. pay very low tax due to exemptions and deductions

B. are in special economic zones

C. have no profit

D. are foreign companies

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Correct Answer: Option A

Explanation:
MAT is imposed on companies whose normal tax liability is low because of exemptions and deductions.

This question belongs to: Economy GK Economy Set 1

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