Economics is split into two branches: microeconomics and macroeconomics. statement 1: If the price of oil decreases, demand expands. statement 2: The Organization of the Petroleum Exporting Countries (OPEC) is able to affect the price of oil. Which option correctly identifies these two statements?
- Astatement 1: macroeconomic statement; statement 2: macroeconomic statement
- Bstatement 1: macroeconomic statement; statement 2: microeconomic statement
- Cstatement 1: microeconomic statement; statement 2: macroeconomic statement
- Dstatement 1: microeconomic statement; statement 2: microeconomic statement