Select an article in a newspaper or magazine that discusses a government policy on goods or...

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Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600—1200 words:  	Summarize the article using at least three economic terms and theories covered in class. 	Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s).  Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.
	
Document Preview: Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600—1200 words:Summarize the article using at least three economic terms and theories covered in class.Identify the impact of the policy on Demand or Supply of the good(s) or service(s).  Discuss the change(s).Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.

David · Accepted Answer

The article is available at: 
http://usconservatives.about.com/od/williamweisscommentary/a/Weiss-5.htm, namely 
“Obama’s Medical Marijuana Policy: A victory for State’s Rights”, written by William 
Weiss. 
The article talks about an unusual stance taken by Obama administration recently 
in favor of states’ right in forming their medical marijuana policy. A memo from US 
attorney’s office announced that the office will not pursue prosecutions against 
distributors, patients and cultivators of marijuana as long as they adhere to state laws. 
Although the reasons for this change in president’s stance are not clear, this could be a 
great win for advocates for states’ right.  
Despite marijuana being used for medical purposes, its production and 
distribution has been prohibited by the federal government. Since the inception of 
medical marijuana law of California, the Compassionate Use Act of 1996 (which allows 
production of marijuana for medical purpose), there has been tug-of-war between state 
government and federal government. Many of the distributors and cultivators, who are 
legally part of supply chain, as well as patients, have been living in fear. They are afraid 
from being prosecuted by the federal government and have been in anxiety as someone 
about to fall to death – with only the state acting as safety net.  Currently about fourteen 
states support legislation for medical marijuana: California, Alaska, Colorado, Maine, 
Hawaii, Maryland, Montana, Michigan, New Mexico, Nevada,  Rhode Island, Oregon, 
Washington and Vermont.

Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600—1200 words: Summarize the article using at least three economic...

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