Given the cash flow of four projects—a, b, c, and d—and using the payback period decision model, which projects do you accept and which projects do you reject if you have a three-year cutoff period for recap-turing the initial cash outflow? for payback period calculations, assume that the cash flow is equally distributed over the year.

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The federal reserve took an expansionary approach during the crisis. this was done by expanding the money supply and boosting liquidity. this can be seen in the fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. the fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.