If a state made a previously-illegal activity, such as gambling or prostitution, legal, then, other things equal, GDP. increases

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Rom4ik [11]

2 years ago

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If a state made a previously-illegal activity, such as gambling or prostitution, legal, then, other things equal, GDP. increases

.

Social Studies

1 answer:

TEA [102] · Answer 1 · 2023-12-03T13:15:30+03:00

gambling is never included in GDP, hence it has no effect on GDP.

GDP is made up of goods and services produced for market consumption as well as certain nonmarket production, such as defense or educational services offered by the government. A different definition that takes into account total national output is the gross national product, or GNP.

<h3>What impact does gambling have on the economy?</h3>

The economy's overall demand for products and services rises as a result of gambling. One out of every ten dollars spent by Americans in 1996 went toward commercial gaming. The economy is directly stimulated by this money. When the multiplier impact is taken into account, this gambling-related expense may also be increased.

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