Illustrate what is the opportunity cost of a defense buildup

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Q. Smith likes cashews better than almonds and likes almonds better than walnuts. Macadamia nuts to almonds. Assuming his preferences are transitive, which does he prefer: a) Pecans or walnuts? B) Macadamia nuts or cashews?

Q. Illustrate what is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 4.0 to 4.1 percent of a $14 trillion economy?

Reference no: EM1354080

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