Eco 212 Week 1 Dq1

Topics: International trade, Statements, Economics Pages: 1 (254 words) Published: September 23, 2010
McTeer stated, “Foreign trade has become more important to our economy in recent years. Exports and imports of goods and services have grown rapidly. G.D.P., as I’ve discussed here before, is the way economists calculate how much an economy is producing in total goods and services.” ( McTeer, 2008)

Locate recent articles in the New York Times or Wall Street Journal in which economists are quoted using positive and normative statements. Provide one quote and its context for both a positive and normative statement. Explain your choice. Evaluate the statement choices of your fellow students.

I believe that this statement is Positive because his is speaking about something that is important and can assist the economy.

Jarzemsky stated, “Government involvement in U.S. home-mortgage financing is a "necessity," said bond-fund manager Bill Gross, noting the current state of the private market. The commentary Tuesday from the head of Pacific Investment Management Co., or Pimco, comes at a time of continued debate over housing policy as federal lawmakers and regulators seek ways to avert future crises.” (Jarzemsky,2010)

This statement is normative because Jarzemsky is stating how things should be. I it the judgement of the author about how home-mortgage financing should be.


JARZEMSKY,M (2010, August 24). Gross: U.S. Role in Housing Finance a Necessity'. Wall Street Journal. Retrieved from

McTeer,B (2008, December 10). The Impact of Foreign Trade on the Economy . New York Times. Retrieved from http://
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