Answered: Why do military costs make up such a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Why do military costs make up such a large portion of state GDP?

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Security concerns. States fear that they'll be invaded and taken over, so they spend inordinate amounts of money to ensure that won't happen

States have obligations to the UN to have certain percentages of their GDP be in military expenditures

States need to invest in military equipment for jobs at home, since most states have domestic arms manufacturers that provide equipment to all their forces

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