Projects a and b have identical expected lives and identical initial cash outflows (costs). however, most of one project's cash flows come in the early years, while most of the other project's cash flows occur in the later years. the two npv profiles are given below: which of the following statements is correct? a. more of project b's cash flows occur in the later years. b. we must have information on the cost of capital in order to determine which project has the larger early cash flows. c. the npv profile graph is inconsistent with the statement made in the problem. d. the crossover rate, i. e., the rate at which projects a and b have the same npv, is greater than either project's irr. e. more of project a's cash flows occur in the later years

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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