Positive vs Normative Economics MCQs | Economics

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In new classical business cycle theory, the short-run aggregate supply curve:

In which of the following scenarios is an economist acting primarily as a scientist?

A The rate of inflation should be reduced because it robs the elderly of their savings. B The unemployment rate should be reduced because unemployment robs individuals of their dignity. C The state should increase subsidies to universities because the future of our country depends on education. D A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.

Which of the following statements is classified as a normative economic statement?

A The government should concentrate on reducing unemployment B The Pakistan’s economy is growing fast relative to other SAARC members C More spending by the government reduces poverty D Higher taxes lead to less desire to work

What is the defining characteristic of positive economic statements?

Which of the following statements represents a normative economic claim rather than a positive one?

A The richest 10 per cent of the population has had a bigger percentage increase in incomes over the past 10 years than the poorest 10 percent B Inequality in the distribution of income is a more serious problem than unemployment C Inflation is rising D The proportion of people's income paid in taxes is higher under this government than under the previous one

If two economists disagree on whether unemployment or inflation is a greater social evil, what is the most likely source of their disagreement?

Which economic concept refers to the practice of prioritizing specific goals or value judgments over neutral, objective analysis?

What are the two foundational components of normative economics?

Which of the following options represents a normative economic statement?

Which type of economic statement is represented by the claim that income inequality in a free market is excessive and should be reduced?

Positive vs Normative Economics MCQs for Competitive Exams

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