The European Economic and Monetary Union A: produced a single government for handling European affairs. B: set up a single currency and sole bank for European economic monetary policy. C: created the Common Agricultural Pact. D: eliminated all barriers to trade such as tax differentials between borders.

1. The European Union is best described as a _______________ . A: free trade area B: customs union C: common market D: economic union

SDRs means (). A: reserve assets and unit of account created by IMF B: currency created by the European Economic Monetary Union C: the central currency of the European Monetary System D: a special right to use funds created by the World Bank

The EU countries were prompted to seek closer coordination of monetary policies and greater exchange rate stability in order A: both to enhance Europe's role in the world monetary system and to turn the European Union into a truly unified market. B: to turn the European Union into a truly unified market. C: to homogenize all European cultures. D: both to turn the European Union into a truly unified market and to counter the rise of Japan in international financial markets.

As of 2002, members of the European Monetary Union agreed to replace their currencies with the: A: mark B: dollar C: franc D: euro