Economics Question: How does a government's budget deficit differ from its national debt, and what are the potential consequences of each for an economy? A$)$ A budget deficit is the total debt owed by the government, while national debt is the annual deficit; both have no significant consequences. B$)$ A budget deficit is the annual excess of government spending over revenue, while national debt is the total accumulation of deficits; both can impact interest rates and borrowing costs. C$)$ A budget deficit is the accumulation of government revenues, while national debt is the total expenditure; both are beneficial for economic growth. D$)$ A budget deficit is the annual surplus in government revenue, while national debt is the total debt owed to foreign countries; both lead to fiscal prosperity.

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