make merry vs carouse

make merry is not a noun while carouse is a noun.

Word	Noun	Adjective	Verb	Adverb
make merry	No	No	Yes	No
carouse	Yes	No	Yes	No

As verbs, carouse is a hyponym of make merry; that is, carouse is a word with a more specific, narrower meaning than make merry:

make merry: celebrate noisily, often indulging in drinking; engage in uproarious festivities
carouse: engage in boisterous, drunken merrymaking

Other hyponyms of make merry include riot, roister.

make merry (noun)	carouse (noun)
	revelry in drinking; a merry drinking party

make merry (verb)	carouse (verb)
celebrate noisily, often indulging in drinking; engage in uproarious festivities	engage in boisterous, drunken merrymaking