Israel's "Iron Dome" Works! Israel’s Iron Dome is an air defense system designed to intercept and destroy incoming missiles and mortars fired across the border by Hamas and other Palestinian factions. It works. Israel’s Defense Minister claims the Iron Dome has been 90 percent effective in shielding population centers. From 2014 until 2021, more than 2,400 projectiles were intercepted, most of them launched from the Gaza Strip by militants. In 2021 Israel upgraded the system to work on ships as well as land. Suppose the annual cost of the Iron Dome is $500 million. What is the opportunity cost of this defense spending in terms of private housing assuming a new home can be constructed for $100,000?
Israel's "Iron Dome" Works! Israel’s Iron Dome is an air defense system designed to intercept and destroy incoming missiles and mortars fired across the border by Hamas and other Palestinian factions. It works. Israel’s Defense Minister claims the Iron Dome has been 90 percent effective in shielding population centers. From 2014 until 2021, more than 2,400 projectiles were intercepted, most of them launched from the Gaza Strip by militants. In 2021 Israel upgraded the system to work on ships as well as land. Suppose the annual cost of the Iron Dome is $500 million. What is the
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