What is the opportunity cost (in civilian output) of a defense buildup that raisesmilitary spending from 4.0

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What is the opportunity cost (in civilian output) of a defense buildup that raisesmilitary spending from 4.0 to 4.3 percent of a $18 trillion economy?

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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