Final answer:
The two privileged classes in France under the Old Regime were the nobility and the clergy, representing the First and the Second Estates, who were exempt from taxes and controlled a large portion of French lands.
Step-by-step explanation:
The two privileged classes in France under the Old Regime were the nobility and the clergy. These classes were part of the First and the Second Estates respectively. The Estates General, the French legislative body at the time, had three parts representing the three distinct social classes of the Old Regime. Members of the clergy made up the First Estate and enjoyed privileges such as exemption from taxes and ownership of approximately 10% of French lands, despite constituting only about 1% of the population. The nobility, who were the Second Estate, controlled a significant portion of the country's land and were also exempt from taxes, even though they accounted for just 2% to 4% of the population. On the other hand, the Third Estate contained around 95% of the population, including the bourgeoisie, peasants, and urban workers, who carried the burden of taxation. As such, the correct answer to the student's question is A) Nobles and Clergy.