The Eurozone is the only monetary union whose members are so economically diverse that monetary authorities must choose the economic concerns of one region over another in formulating monetary policy.

Question

Quizplus · Accepted Answer

While the Eurozone is a prominent example of a monetary union with economically diverse members, it is not the only one. Other monetary unions, such as those in the Caribbean (Eastern Caribbean Currency Union) and Africa (West African Economic and Monetary Union, Central African Economic and Monetary Community), also face challenges in addressing the diverse economic concerns of their member states.

The Eurozone Is the Only Monetary Union Whose Members Are