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Question
Which of the following statements are not related to positive economics?
(i) It can be verified with actual data.
(ii) It aims to determine the ideals.
(iii) It is based upon facts.
(iv) It is suggestive in nature.
Alternatives:
Options
(i) and (ii)
(ii) and (iii)
(ii) and (iv)
(iii) and (iv)
MCQ
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Solution
(ii) and (iv)
Explanation:
Positive economics is fact-based and can be tested against actual data. Determining ideals and making suggestions are features of normative economics, so statements (ii) and (iv) are not related to positive economics.
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