Which of the following statements about the European Union (EU) is true?

All members of the EU use a common currency (the euro).

The EU has abolished most trade barriers among participating countries and has common tariffs applied to non-EU goods.

The EU has eliminated most barriers to the trade of goods and services among participating nations but largely restricts the movement of labor and capital.

Trade within the EU is liberalized, but EU nations set most of their own policies with regard to trade with non-EU nations.