Problem
As the result of changing international conditions, real national defense expenditures declined approximately 15 percent between 1989 and 1991. What would you expect the impact of this decline to be on aggregate demand and output in the short run? If the United States spends less on national defense in the future, how will this factor influence the standard of living of Americans? Discuss.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.