What Was Milton Friedman's Argument for a Volunteer Army Instead

question 134

Multiple Choice

What was Milton Friedman's argument for a volunteer army instead of a military draft?

• A) The societal cost of a draft was much higher than the paychecks of a volunteer army because of the significant opportunity cost of drafted soldiers.
• B) A volunteer army would cost less in dollar terms than a drafted army.
• C) The United States would no longer need an active army because the country could protect itself adequately with just a few volunteer soldiers.
• D) The opportunity cost of an all-volunteer army is higher than that of the draft.

---

Definitions:

High-Risk

Situations or investments where there is a high probability of loss but also a potential for more significant than average gains.

Household Savings

The portion of disposable income that is not used for consumption, but is set aside for future spending, emergencies, or investments.

Economic Loss

A situation where the cost of producing a good or service exceeds the revenue generated from its sale.

Investment

Positioning resources, particularly money, with the expectation of accruing income or a profit.