With Regard to the Concepts of Budget Deficits and the National

Multiple Choice

With regard to the concepts of budget deficits and the national debt,it is correct to say that

A) these two concepts are essentially identical.
B) budget deficits are measured on an annual basis,while the national debt is cumulative over a span of years.
C) Canada is the only major industrialized country that has a budget surplus each year.
D) budget deficits measure the amount of money that Canada owes its foreign investors.
E) budget deficits are more important than the national debt.