What Are the Biggest Advantages the U

question 28

Multiple Choice

What are the biggest advantages the U.S. has over the EU in terms of being an Optimum Currency Area?

• A) low mobility of labor, higher labor productivity, lower level of intra-regional trade
• B) high unionization of U.S. labor force
• C) high mobility of labor force, more transfer payments between regions
• D) higher uniformity of population's taste in consumption
• E) more specialized labor force and natural resource advantages

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Definitions:

Real GDP

Represents the total economic output of a country, adjusted for inflation, thereby providing a more accurate reflection of an economy's size and growth.

Aggregate Expenditure

The total amount of spending in an economy, including consumption, investment, government, and net export expenditures.

Real Disposable Income

The income of individuals or the nation after adjusting for inflation, representing the amount of money that households have available for spending and saving after income taxes have been accounted for.

U.S. Exports

Goods or services produced within the United States and sold to buyers in other countries, contributing to the country's economy.