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
Correct Answer: Objective and value-free analysis
Solution : The correct answer is (c) Objective and value-free analysis.
Positive economics is often associated with objective and value-free analysis. It focuses on analyzing economic data and facts to provide an objective understanding of how the economy functions. Positive economics seeks to describe and explain economic phenomena based on observable evidence, without making value judgments or incorporating subjective opinions or moral considerations.
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