i) TRUE or FALSE. Microeconomics and macroeconomics are independent to each other. ii) TRUE or FALSE. Price is the main determinant of macroeconomics. iii) TRUE or FALSE. The difference between indirect taxes and subsidies is known as net indirect tax.

iv) TRUE or FALSE. Capital formation is the surplus of consumption over production in an accounting year which is further used for production. v) TRUE or FALSE. The Keynesian theory of employment rules out the possibility of unemployment in a free market economy.