Given below are two statements :
Statements I: The number of exchange possibilities that exist in a money economy exceeds the number in a barter economy.
Statement II : An increase in the length of time for which money is held will reduce the velocity at which money circulates in the economy.
In the light of the above statements, ,choose the most appropriate answer from the options given below:

A

Both Statement I and Statement II are correct.

B

Both Statement I and Statement II are incorrect.

C

Statement I is correct but Statement II is incorrect.

D

Statement I is incorrect but Statement II is correct.