At a family gathering, your uncle hears that you are taking a finance course with many real life applications. He wants to consult you regarding a new house he likes very much. The house is selling for $250,000. Your uncle can put $50,000 down and qualifies for 4% APR for 30 year mortgage. He asks you how much his monthly payments will approximately be if he buys the house. What would be your answer

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.