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

Option 1: The government should invest more in renewable energy sources.

Option 2: Higher taxes on cigarettes will reduce smoking rates.

Option 3: Income inequality is a moral issue that needs to be addressed.

Option 4: Economic growth is essential for societal well-being.

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 : Statement 1: Positive economics aims to determine how changes in the price of a good affect its quantity demanded.

Statement 2: Normative economics focuses on analyzing the impact of government policies on consumer behavior.

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.