Given below are two columns- I & II each containing a set of statements. You are required to match statements in column I with correct statements in column II.

Choose the correct pair of statements.

a-iii, b-iv, c-i, d-ii

The Correct Answer is option 3: a-iii, b-iv, c-i, d-ii

Normative economics is a part of economics whose objective is fairness or what the outcome of the economy or goals of public policy ought to be.

Macroeconomics involves the study of economy as a whole by focusing our attention on aggregate measures such as total output, employment and aggregate price level.

Positive economics is an objective stream of economics that relies on facts or what is happening.

Microeconomics is the study of individuals, households and firms' behavior in decision making and allocation of resources