Question: There is a common saying that there is nothing better for economic growth than a good war. The purpose of this discussion forum is to

There is a common saying that "there is nothing better for economic growth than a good war." The purpose of this discussion forum is to examine the potential impact of war on the economy through the aggregate expenditure model.

Please discuss the following questions:

  1. How does the Aggregate Expenditure model describe the impact of using resources in wars?
  2. How would a war affect aggregate supply and aggregate demand? What is likely to happen to output and the price level?
  3. Would an "outbreak of peace" be good or bad for the economy? Please explain.

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