Question : Positive economics is often associated with:

Option 1: Value judgments and moral considerations

Option 2: Economic theories and models

Option 3: Objective and value-free analysis

Option 4: Policy prescriptions and recommendations

Question : Positive economics is based on:

Option 1: Subjective opinions and personal values

Option 2: Objective analysis and empirical evidence

Option 3: Speculative future predictions

Option 4: Political ideologies

Question : Statement 1: Positive economics deals with objective analysis and focuses on explaining economic phenomena as they are.

Statement 2: Normative economics involves subjective judgments and aims to prescribe what economic policies should be implemented.

Option 1: Statement 1 is true, and statement 2 is false.

Option 2: Statement 1 is false, and statement 2 is true.

Option 3: Both statements 1 and 2 are true.

Option 4: Both statements 1 and 2 are false.

Question : Assertion: Positive economics focuses on objective analysis based on data and facts.

Reason: Positive economics is value-laden and incorporates subjective judgments.

Option 1: Both the assertion and reason are true, and the reason is a correct explanation of the assertion.

Option 2: Both the assertion and reason are true, but the reason is not a correct explanation of the assertion.

Option 3: The assertion is true, but the reason is false.

Option 4: The assertion is false, but the reason is true.

Question : Normative economics deals with:

Option 1: Economic data analysis

Option 2: Objective and value-free analysis

Option 3: Economic policies and ethical judgments

Option 4: Economic theories and models