Classifying Economic Statements as Micro or Macro

Steps:

• Identify the focus of statement 1: it examines individual firm or consumer behavior, a microeconomic trait.
• Identify the focus of statement 2: it also analyzes specific market or household decisions, confirming microeconomic scope.
• Compare to choice options: match both as microeconomic statements.
• Select the option that pairs two microeconomic statements.

Why D is correct:

• Microeconomics studies individual agents like firms and consumers, per standard economic definitions; both statements fit this by addressing specific, non-aggregate behaviors.

Why the others are wrong:

• A mislabels both as macro, ignoring their individual-level focus.
• B incorrectly assigns macro to the first and micro to the second.
• C reverses the classifications, wrongly deeming the first macro.

Final answer: D