Read the two statements and choose the correct option.

I. Microeconomics is also called price theory.

II. Macroeconomics is also called income theory.

Explanation

1. 01

   Microeconomics centres on how the prices of goods and factors are set, so it is called price theory.

2. 02

   Macroeconomics centres on how national income and employment are determined, so it is called income theory.