Question
Starting in 2013, Colorado legalized cannabis usage. In 2020, 34 states have legalized use of medical cannabis, and the 11 other states and Washington DC
Starting in 2013, Colorado legalized cannabis usage. In 2020, 34 states have legalized use of medical cannabis, and the 11 other states and Washington DC allow recreational cannabis usage.
Many people have argued that cannabis legalization will increase a state's GDP. One piece of evidence was that in Colorado, when recreational cannabis usage was legalized in 2013, Colorado's GDP increased by 5.4 percent while the US GDP growth was 1.8 percent.
How does cannabis legalization increase GDP? Explain succinctly with the GDP calculation in mind. Do not use unnecessary information.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started