Question

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 1

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 is $4 trillion 400 billion.

What is military spending?

• A military budget (or military expenditure), also known as a defense budget, is the number of financial resources that a state devotes to raising and maintaining armed forces or other methods necessary for defense.
• Military budgets frequently reflect a country's perception of the likelihood of threats against it, as well as the level of aggression desired.
• It also indicates how much funding should be allocated for the upcoming fiscal year.
• A budget's size also reflects a country's ability to fund military activities.

To find 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:

So,

• 3.4 - 3.2 = 0.2
• That is an increase of 0.2%.

Then,

• $22 trillion × 0.2% = $4.4
• That is 4 trillion 400 billion.

Therefore, 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 is $4 trillion 400 billion.

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Answer 2

Answer: $44 billion

Explanation: 3.2-3.4 = .2 = .002%

.002% * 22,000,000,000,000 = 44 billion