Final answer:
The American Recovery and Reinvestment Act provided support to various areas such as bailing out financial institutions, making loans to auto companies, funding road and bridge construction, and working to ease the bank credit crisis.
Step-by-step explanation:
The American Recovery and Reinvestment Act supported several areas to address the economic crisis.
- Bailing out financial institutions: The Troubled Asset Relief Program (TARP) injected cash into troubled banks and other financial institutions to stabilize them.
- Making loans to auto companies: The Act authorized $80 billion to help Chrysler and General Motors, which prevented layoffs and supported the industry.
- Funding road and bridge construction: The Act provided funds to stimulate economic growth and job creation, including infrastructure projects like road and bridge construction.
- Working to ease the bank credit crisis: The Federal Reserve Bank purchased assets off banks' balance sheets, injecting money into the banking system and increasing funds available for lending.