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(8 marks) From 1730 to 1919, the United Kingdom experienced eight wars and the military spending rose substantially during these wars. Using the loanable fund

(8 marks) From 1730 to 1919, the United Kingdom experienced eight wars and the military spending rose substantially during these wars.

Using the loanable fund market theory of the Classical Theories, explain how a rise in military spending affects national savings, real interest rate and investment of the United Kingdom in the long run.

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