Actually, GPS is only a drain when an app uses it. Just having the checkbox in the settings enabled means you are giving apps permission to use the GPS. It is not an off/on toggle for the GPS itself. The only drain occurs when apps try to use GPS.
You would do better to monitor which of your apps use the GPS than worrying about checking/unchecking the box. That said, I do disallow GPS when I'm at work, simply because I can't get GPS fixes in my office building and I have apps that would try to use GPS during that time which would be pointless.
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