SOLUTION: What is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 3.2 to 3.4 percent of a $22 trillion economy?
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Question 1196005: What is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 3.2 to 3.4 percent of a $22 trillion economy? Answer by math_tutor2020(3817) (Show Source):
The defense spending has gone from $704 billion to $748 billion
This is an increase of 748 - 704 = 44 billion dollars.
This is the opportunity cost as it could have been used in other government programs, pay down the debt, pay off healthcare/pensions, or perhaps returned back to the citizens in the form of tax refunds.
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