Government Spending and GDP
What defence-spending benchmark did Canada reach for the frist time since the Cold War?
The NATO %2 of GDP Target!
During wartime, which curve typically shifts right for resources like oil and metals?
The demand curve.
In wartime, does the production possibilities frontier shift inward or outward?
Inward.
Militaries are responsible for what percentage of global greenhouse gas emissions?
5.5%.
Military spending reduces funding for social programs, harming which economic goal?
Equitable distribution of income.
What major economic measure fails to include military output because it isn’t sold in consumer markets?
GDP
What precious metal is the most common “safe haven” investment during war?
Gold.
Producing more military goods at the expense of civilian goods demonstrates what economic concept?
Opportunity cost.
What types of weapons leave toxic remnants such as depleted uranium and white phosphorus?
Explosive weapons and munitions.
War reduces this key economic resource through death, migration, and illness.
Human capital.
What economic concept describes the tradeoff when military spending reduces funding for healthcare, education, and infrastructure?
Opportunity cost.
What fuel saw a major price increase after the U.S.–Israel strike on Iran?
Crude oil (and gasoline).
What type of output is not counted in GDP because it is not sold to consumers?
Military output.
Which radioactive isotope from U.S. nuclear tests was linked to increased thyroid cancer?
Iodine‑131 (I‑131).
What was Canada’s first universal social welfare program, introduced in 1944?
The Family Allowance program.
What percentage of federal spending went to National Defence in fiscal year 2024?
6.7%.
Which Canadian province experienced heating‑oil price increases from $1.80 to over $2 due to global conflict?
Nova Scotia.
What economic model illustrates the tradeoff between military goods and civilian goods?
The Production Possibilities Frontier (PPF).
Military training and readiness consume large amounts of what energy source?
Oil.
What major tax did Canada introduce for the first time in 1917 during WWI?
Income tax.
Globally, a 1% increase in military spending reduces economic growth by what percentage over 20 years?
9%.
What 1970s event caused oil prices to spike by about 50%, similar to modern wartime increases?
The Arab oil embargo (and Iranian Revolution).
What term describes the long‑term loss of skilled workers after war due to death or migration?
A “lost generation.”
Russia’s first three years of war in Ukraine produced emissions equal to which four European countries combined?
Austria, Hungary, the Czech Republic, and Slovakia.
What percentage of Canadians in poverty experience long‑term, persistent poverty?
40%.