Think of the Expenditure Approach for Calculating GDP

Multiple Choice

Think of the expenditure approach for calculating GDP. In this approach, spending of firms, the government, individual households, and the rest of the world are added up using the formula:
GDP = C + I + G + (X-M)
What do X and M stand for, respectively?

A) Imports; exports
B) Exports; imports
C) Personal consumption; investment in new capital
D) Government spending; subsidy payments