Which Country Spends a Little More Than Half the Amount

question 18

Short Answer

Which country spends a little more than half the amount of global military expenditures (bombs, planes, firepower, nuclear submarines, etc.) ?

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Definitions:

Price Elasticity

A measure of the sensitivity of demand or supply for a product or service to changes in its price.

Incidence

The measure or rate at which a particular phenomenon occurs, often used in the context of disease or taxation.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied reacts to the smallest change in price with an infinite amount of change in quantity.

Excise Tax

A targeted tax levied on the sale of specific goods and services, such as alcohol and tobacco, often used to discourage consumption.