Question : Which objective of government budget is highlighted here? High amount of taxation is imposed on rich class and more welfare is given to poor.
Option 1: Reallocation of resources
Option 2: Reducing income inequalities
Option 3: Economic stability
Option 4: Economics growth
Correct Answer: Reducing income inequalities
Solution : Under reducing inequalities of income and wealth, Government high amount of taxation is imposed on rich class and more welfare is given to poor. Hence Option B is correct.
Question : Which objective of government budget is highlighted here? Government imposes heavy taxation to discourage the consumption of harmful consumption goods like liquor, cigarettes, etc.
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.
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 : 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
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
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