Open Economyan economy that interacts freely with other economies around the worldClosed Economyan economy that does not interact with other economies in the worldImportsgoods and services brought into a nation from another nationExportsGoods and services sold to other countriesBalance of Tradethe difference between a country's total exports and total importsCurrent AccountThat part of the balance of payments recording a nation's exports and imports of goods and services and transfer paymentsTrade DeficitAn excess of imports over exportsTrade Surpluswhen a country exports more than it importsCapital Accountthe measure of the buying and selling of assets between countries.Loadable Fundsis the sum total of all the money people and entities in an economy have decided to save and lend out to borrowers as an investment rather than use for personal consumption.Exchange RateThe measure of how much one currency is worth in relation to another.Appreciate<span>to increase in value</span>
The European Recovery Program (ERP), popularly known as The Marshall Plan, in honor of the Secretary of State of the United States, George Marshall (the main man behind its design), was an economic recovery program organized by the United States for the reconstruction of the European countries after the Second World War. The Marshall Plan was born with the intention of helping in the reconstruction of Western Europe after the Second Great War. It was Europe, and not in the United States (except the Pearl Harbor incident), which had to bear the weight of the Nazi conquest attempt in its territory. As a result of the conflict, it had been ruined, while
The Marshall Plan was in itself a powerful feedback effect for the American economy's feedback. Why? Well, the reason is found in the American capitalist economic system itself, based on the unchangeable forces of supply and demand. In addition, USA had been configured as the banker of Europe.
For these reasons, the Marshall Plan was of vital importance for the European economic recovery, but at the same time, the help provided by Truman managed to maintain the North American hegemony during the last years, the record of the United States and the great power that is today.
Answer:
True
Explanation:
I'm assuming "The northern plan" is referring to the anaconda plan made by the union in the american civil war.
I think that these are the answers for your questions.
3. B
4. B
