Whereas efforts to revive Great Britain's economy met with mixed results, the Social Democratic governments of the 1970s pulled West Germany out of the doldrums and led to a renewed "economic miracle" in that country. 1. True2. False

Question

History

Aaron Yoder

1 December, 14:25

Whereas efforts to revive Great Britain's economy met with mixed results, the Social Democratic governments of the 1970s pulled West Germany out of the doldrums and led to a renewed "economic miracle" in that country. 1. True2. False

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Answers (1)

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Josephine Kim · Answer 1

1. True.

Explanation:

The Marshall Plan, an aid program crafted and financed by the US government after the war and the economic reforms instituted by the West German leader Ludwig Erhard laid the foundations for the West Germany's recovery. In the 1950s, West Germany, a firm ally of the US, had managed to create a dynamic and growing free market economy and rebuilt the prewar industrial capacity. Two elements were key in the success of economic revival: a new monetary policy and dropping wages and prices controls.