For a Closed Economy,GDP Is $12 Trillion,consumption Is $7 Trillion,taxes

Multiple Choice

For a closed economy,GDP is $12 trillion,consumption is $7 trillion,taxes net of transfers are $3 trillion and the government runs a deficit of $1 trillion.What are private saving and national saving?

A) $5 trillion and $3 trillion,respectively
B) $5 trillion and $1 trillion,respectively
C) $2 trillion and $3 trillion,respectively
D) $2 trillion and $1 trillion,respectively