Which of the following is a feature of globalisation in the economic sense?
A. Only cultural exchange without economic linkages
B. Increasing integration of national economies through trade, investment and technology
C. Increasing isolation of national economies
D. Complete ban on cross-border capital flows
Answer: Option B
Solution (By JKSSB Mock Tests)
Economic globalisation refers to the growing interdependence of national economies through the expansion of cross-border trade, capital flows, technology transfer and information exchange.
Explanation:
Progressive income taxes automatically increase the tax burden during expansions and reduce it during contractions, stabilising disposable income without new legislation.
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