During the 1990s, many European countries joined forces by forming an economic and monetary union to compete against the large economy of the United States as well as the emerging economies of China and India. The following are advantages to the European Union EXCEPT:
A)removing conversion costs and exchange rate uncertainty
B)lower inflation and interest rates
C)political arguments and disharmony amongst member states
D)increased competition and efficiency of the market

Question

Quizplus · Accepted Answer

Political arguments and disharmony amongst member states are not advantages to the European Union.
Key Takeaway: Towards the end of the 20th century, many European countries joined forces by forming an economic and monetary union. The union was designed to provide a competitive economic bloc against the large economy of the United States and the emerging economies of China and India. The resultant union had several advantages including the removal of currency conversion costs and exchange rate uncertainty. The union also lowered inflation and interest rates while increasing competition and efficiency.

During the 1990s, Many European Countries Joined Forces by Forming