Question : Which of the following is an example of positive economics?

Option 1: Increasing the minimum wage will reduce poverty rates.

Option 2: The government should prioritize environmental sustainability over economic growth.

Option 3: Free trade improves overall economic welfare.

Option 4: The distribution of wealth in society is unjust.

Question : Positive economics involves:

Option 1: Assessing the impact of economic policies on societal well-being

Option 2: Conducting experiments to test economic theories

Option 3: Evaluating the ethical implications of economic decisions

Option 4: Analyzing economic data to understand cause and effect relationships

Question : Which objective of government budget is highlighted here?
Government aims to relocate resources with the aim of profit maximization and public welfare according to the priority of the country.
 

Option 1: Reallocation of resources
 

Option 2: Reducing income inequalities
 

Option 3: Economic stability
 

Option 4: Economics growth
 

Question : Bearing in mind the assertion that economics is a "positive" and not a "normative" science, with which of the following problems would an economist be concerned?

I. The unfairness of the distribution of wealth
II. The effect on prices due to speculation in raw materials
III. The results of union pressure for increased wages
IV. The rights and wrongs of exaggerated advertising claims

Option 1: I only

Option 2: II, III

Option 3: I, III

Option 4: I, II, III, IV

Question : "Economics is what it ought to be" - This statement refers to 

Option 1: Normative economics 

Option 2: Positive economics 

Option 3: Monetary economics 

Option 4: Fiscal economics