COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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yes
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no
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Either A or B
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None of the above
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Detailed explanation-1: -The Marshall Plan was very successful. The western European countries involved experienced a rise in their gross national products of 15 to 25 percent during this period. The plan contributed greatly to the rapid renewal of the western European chemical, engineering, and steel industries.
Detailed explanation-2: -This aid provided much needed capital and materials that enabled Europeans to rebuild the continent’s economy. For the United States, the Marshall Plan provided markets for American goods, created reliable trading partners, and supported the development of stable democratic governments in Western Europe.
Detailed explanation-3: -The Marshall Plan generated a resurgence of European industrialization and brought extensive investment into the region. It was also a stimulant to the U.S. economy by establishing markets for American goods.
Detailed explanation-4: -At the completion of the Marshall Plan period, European agricultural and industrial production were markedly higher, the balance of trade and related “dollar gap” much improved, and significant steps had been taken toward trade liberalization and economic integration.