BUKU JAWABAN TUGAS MATA KULIAH

TUGAS 3

Nama Mahasiswa : Devianti Fatimah Sari

Nomor Induk Mahasiswa/ NIM : 041742996

Kode/Nama Mata Kuliah : ADBI4201 / Bahasa Inggris Niaga

Kode/Nama UPBJJ : 47 / Pontianak

Masa Ujian : 2020/21.2 (2021.1)

KEMENTERIAN PENDIDIKAN DAN KEBUDAYAAN

UNIVERSITAS TERBUKA
1. If “New Marshall Plan” is implemented in less developed countries, it will help those
countries to grow
Do you agree or disagree to the statement?
Yes, I’m agree. The Marshall Plan (officially the European Recovery Program, ERP) was an
American initiative passed in 1948 for foreign aid to Western Europe. The United
States transferred over $13 billion (equivalent to $130 billion in 2020) in economic recovery
programs to Western European economies after the end of World War II. Replacing an earlier
proposal for a Morgenthau Plan, it operated for four years beginning on April 3, 1948. The goals
of the United States were to rebuild war-torn regions, remove trade barriers, modernize industry,
improve European prosperity, and prevent the spread of communism. The Marshall Plan required
a reduction of interstate barriers, a dropping of many regulations, and encouraged an increase
in productivity, as well as the adoption of modern business procedures.
Probably the most succcesful programme of international aid and nation bulding in
history. It was named after general George Marshal, an American secretary of state, wo at
the end of the second world war proposed giving aid to western Europe to rebuild its war-torn
economies. North America gave around 1% of it GDP in total between 1948 and 1952;most
of came from the United States and the rest from Canada. The Americans left it to
Europeans to work out the details on allocating aid, wich may be why, according to most
economic analyses, it achieved more success than later day aid programmes in wich most of
the decisions on how the money is spent are made by the donors.
The main institution through which aid was administered was The Organization of the
European Economic Co-operation (OEEC), which in 1961 became the OECD. Nowdays,
whenever there is proposal for the international community to rebuild an economy damaged
by war, such as Iraq’s in 2003, you are sure to hear the phrase “New Marshall Plan”.

2. Laissez-Faire policies should be implemented to boost economic growth

Do you agree or disagree to the statement?
I’m not Agree, because policy of minimum governmental interference in the
economic affairs of individuals and society. Belief in laissez-faire was a popular view
during the 19th century. Its proponents cited the assumption in classical economics of a
natural economic order as support for their faith in unregulated individual activity. The
British philosopher and economist John Stuart Mill was responsible for bringing this
philosophy into popular economic usage in his Principles of Political Economy (1848), in
which he set forth the arguments for and against government activity in economic affairs.
Laissez-faire was a political as well as an economic doctrine. The pervading
theory of the 19th century was that individuals, pursuing their own desired ends, would
thereby achieve the best results for the society of which they were part. The function of
the state was to maintain order and security and to avoid interference with the initiative of
individuals in pursuit of their own desired goals. But laissez-faire advocates nonetheless
argued that government had an essential role in enforcing contracts as well as ensuring
civil order.
The philosophy’s popularity reached its peak around 1870. In the late 19th century
the acute changes caused by industrial growth and the adoption of mass
production techniques proved the laissez-faire doctrine insufficient as a guiding
philosophy. In the wake of the Great Depression in the early 20th century, laissez-faire
yielded to Keynesian economics—named for its originator, the British economist John
 Maynard Keynes—which held that government could relieve unemployment and increase
economic activity through appropriate tax policies and public expenditures. Keynesianism
attracted wide support and influenced government fiscal policies in many countries. Later
in the 20th century, the notion of laissez-faire was revived by the school of monetarism,
whose leading exponent was the American economist Milton Friedman. Monetarists
advocated carefully controlled increases in the rate of growth of the money supply as the
best means of achieving economic stability.

3. Open economy is better than closed economy

Do you agree or disagree to the statement
Yes, I.m Agree. A closed economy is self-sufficient, meaning that no imports are brought
in and no exports are sent out. The goal is to provide consumers with everything that they need
from within the economy's borders. A closed economy is the opposite of an open economy, in
which a country will conduct trade with outside regions.
An open economy is an economy in which there are economic activities between
domestic community and outside, e.g. people, including businesses, can trade in goods and
services with other people and businesses in the international community, and flow of funds as
investment across the border. Trade can be in the form of managerial exchange, technology
transfers, all kinds of goods and services. Although, there are certain exceptions that cannot be
exchanged, like, railway services of a country cannot be traded with another to avail this service,
a country has to produce its own. This contrasts with a closed economy in which international
trade and finance cannot take place. The act of selling goods or services to a foreign country is
called exporting. The act of buying goods or services from a foreign country is called importing.
Together exporting and importing are collectively called international trade. There are a number
of advantages for citizens of a country with an open economy. One primary advantage is that the
citizen consumers have a much larger variety of goods and services from which to choose.
Additionally, consumers have an opportunity to invest their savings outside of the country. In an
open economy, a country’s spending in any given year need not to equal its output of goods and
services. A country can spend more money than it produces by borrowing from abroad, or it can
spend less than it produces and lend the difference to foreigners. There is no closed economy in
today’s world.
An economy in which no activity is conducted with outside economies. A closed economy
is self-sufficient, meaning that no imports are brought in and no exports are sent out. The goal is
to provide consumers with everything that they need from within the economy’s borders. A closed
economy is the opposite of an open economy, in which a country will conduct trade with outside

regions.