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Impact of the war on a nation's economy.

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What is the impact of war on a nation's economy? Specifically, will it stimulate the economy or slow it down. The impact both in the short run (Keynesian view) and the long run (classical economist's view).

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Solution Summary

The expert describes the short and long term effects of war time spending on an economy.

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It would be helpful to know if this needs to be an essay or a paragraph answer. For an essay you will need to carefully explain how each sector of the economy will be impacted by war. For some sectors, the effect will be increased productivity, while for others there will be a negative effect.
Consider some of the effects of WWII:
The labor supply
The destruction of factories/machines/houses
Scientific discovery
etc.

If you are only expected to deliver a ...

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