تكلم مع الذكاء الاصطناعي
Essentials of Economics 8th Edition by Bradley Schiller
النسخة 8الرقم المعياري الدولي: 978-0073511399Essentials of Economics 8th Edition by Bradley Schiller
النسخة 8الرقم المعياري الدولي: 978-0073511399 تمرين 1
For fiscal year 2011, President Obama proposed to increase military spending by $30 billion. What is the opportunity cost of that spending? Is it worth it?
التوضيح
موثّق
موثّق
The opportunity costs are the most desired goods and services that are forgone in order to obtain something else. Producing any good or service implies using up some resources. These resources could alternatively put in use to produce some other good or service. But by choosing to utilize the resources in one particular usage, the alternative usages have to be forgone and the most desirable among these uses are the opportunity costs. Therefore, the opportunity cost of producing any good or service X is the amount of the good or service Y that could have been produced with the resources involved in the production of X.
The opportunity cost of spending $ 30 billion on military expenditure is the value of the most desirable goods and services that could alternatively be produced from $ 30 billion. Whether this expenditure of $ 30 billion on military expenditures is worth the opportunity costs or not depends upon what the returns are from the investment. If in the absence of these expenditures, there is a threat to the security of America and its citizens, then it could be worth it.
If the military expenditures are not made, and the $ 30 billion is used instead to produce consumer goods but because of a lack of effective security there might be a terrorist attack that leads to a loss of human lives as well as resources of the economy, this loss could potentially be valued at amounts much greater than the value of consumer goods produced from the $ 30 billion. Therefore, the significance of the spending on military expenses depends upon the perceived importance of increasing security relative to the need for alternative expenditures for the economy.
The opportunity cost of spending $ 30 billion on military expenditure is the value of the most desirable goods and services that could alternatively be produced from $ 30 billion. Whether this expenditure of $ 30 billion on military expenditures is worth the opportunity costs or not depends upon what the returns are from the investment. If in the absence of these expenditures, there is a threat to the security of America and its citizens, then it could be worth it.
If the military expenditures are not made, and the $ 30 billion is used instead to produce consumer goods but because of a lack of effective security there might be a terrorist attack that leads to a loss of human lives as well as resources of the economy, this loss could potentially be valued at amounts much greater than the value of consumer goods produced from the $ 30 billion. Therefore, the significance of the spending on military expenses depends upon the perceived importance of increasing security relative to the need for alternative expenditures for the economy.
Essentials of Economics 8th Edition by Bradley Schiller
لماذا لم يعجبك هذا التمرين؟
أخرى 8 أحرف كحد أدنى و 255 حرفاً كحد أقصى
حرف 255
