Many colonists believed that export surpluses with England positively impacted colonial businesses through increased prices and profits

When the actual reserves held by a bank exceed the legal requirement, the bank

a. will have to borrow from the Fed. b. has excess reserves, which can be used to extend additional loans. c. cannot extend additional loans. d. will have to reduce its outstanding loans.

In determining the beginning of recessions, the NBER Business Cycle Dating Committee looks for evidence of decline in:

A. the rate of inflation. B. specific sectors of the economy. C. the stock market. D. the entire economy.