The Country of Meditor,a Small Country with a Closed Economy,uses

Multiple Choice

The country of Meditor,a small country with a closed economy,uses the merit as its currency.Recent national income statistics showed that it had GDP of $600 million merits,no government transfer payments,taxes of $150 million merits,a budget surplus of $40 billion merits,and investment of $100 billion merits.What were its consumption and government expenditures on goods and services?

A) $460 million merits and $150 million merits
B) $310 million merits and $190 million merits
C) $350 million merits and $190 million merits
D) $390 million merits and $110 million merits