Question 11 Not yet The European Economic and Monetary Union answered Select one: Marked out of 1.00 O a. set up a single currency and sole bank for European economic monetary policy. Flag O b." eliminated all local currencies in Western Europe. question O c. eliminated tax differentials between member countries and introduced common fiscal policy. O d. produced a single government for handling European affairs. Question 12 Not yet The theory of optimum currency areas predicts that answered Marked out of 1.00 Select one: Flag O a. fixed exchange rates are most appropriate for areas closely integrated through international trade and factor movements. question O b. floating exchange rates are most appropriate for all countries in Europe. c. floating exchange rates are most appropriate for areas that are closely integrated through international trade and factor movements. O d. fixed exchange rates are most appropriate for US, Canada and Mexico