When describing the trade-off between government expenditures on the military versus social welfare and economic programs, the common adage "guns vs.butter" is used.This situation is referring to which of the following concepts?
A)The peace dividend
B)Opportunity costs
C)Coercive diplomacy
D)Security dilemma
E)Neoliberal theory

Question

Quizplus · Accepted Answer

The "guns vs. butter" concept relates to the idea of opportunity cost, which is the trade-off between choosing one option over another. In this case, the choice is between government expenditures on military (guns) versus social welfare and economic programs (butter). The government can only allocate a finite amount of resources, and choosing to spend more on one option means sacrificing spending on the other. Therefore, the government must consider the opportunity cost of each decision when deciding on how to allocate their resources.

When Describing the Trade-Off Between Government Expenditures on the Military