An increase in a consumer's income will always increase the demand for a good

The economics of slavery suggests that

(a) slave labor produced efficiencies in Southern agriculture. (b) slave owners possessed economic incentives to beat and exploit their slaves. (c) Southern agriculture was less profitable than northern farming. (d) Southern agriculture was just and moral.

Which of the following is true concerning the national debt?

a. It equals the budget deficit. b. When the budget deficit is declining, the national debt will fall. c. A budget deficit will reduce the national debt. d. A budget surplus will reduce the national debt.