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Explain why you agree or disagree with the following statement: In October 2018 , recreational cannabis was legalized in Canada. Ceteris paribus, this will have no effect on measured Canadian real GDP in subsequent years because cannabis was used even before this change.

Explain why you agree or disagree with the following statement: In October 2018 , recreational cannabis was legalized in Canada. Ceteris paribus, this will have no effect on measured Canadian real GDP in subsequent years because cannabis was used even before this change.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 10SCQ: Explain briefly whether each of the following would cause GDP to overstate or understate the degree...
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Explain why you agree or disagree with the following statement: In October 2018, recreational cannabis was legalized in Canada. Ceteris paribus, this will have no effect on measured Canadian real GDP in subsequent years because cannabis was used even before this change.
Transcribed Image Text:Explain why you agree or disagree with the following statement: In October 2018, recreational cannabis was legalized in Canada. Ceteris paribus, this will have no effect on measured Canadian real GDP in subsequent years because cannabis was used even before this change.
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