INDEPENDENT ASSESSMENT 1:
Application: True or False

Directions: Determine whether each statement is correct or
not. Write the word TRUE if correct otherwise, write FALSE in
your answer sheet.

1. Macroeconomics deals with the study of individual behavior
and business decisions.
2. Microeconomics looks at the decisions of the govemment.
3. Resources are always unlimited.
4. Macroeconomics examines GDP and how it is affected by
economic changes.
5. Entrepreneurs decide on how goods and services are
produced.​