4. Economic costs and benefits of a common currency Identify whether each attribute in the following table is an advantage or disadvantage of sharing a currency across country boundaries. Attribute Advantage Disadvantage Protection from monetary disturbances and speculation Limited scope for fiscal policy Lower transaction costs Price stability Speculative attacks during currency transition Which of the following are reasons the European Union is considered currency area? Check all that apply. Limited use of fiscal policy Wage rigidity Labor immobility Low economic efficiency gains