According to the Theory of Optimum Currency Areas, a Currency

question 54

Multiple Choice

According to the theory of optimum currency areas, a currency area has the least chance for success when

• A) countries of the currency area have differing business cycles.
• B) workers have a high degree of mobility across borders of the currency area.
• C) prices and wages can be adjusted in response to economic disturbances.
• D) a single monetary policy affects all member countries in the same manner.

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