An optimal currency area can be defined as one which

Name: An optimal currency area can be defined as one which
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An optimal currency area is ideally defined by the characteristic that if the area were to expand or contract, the net benefits of having a single currency would decrease. This concept focuses on the balance of benefits and costs associated with a single currency, suggesting that there is an ideal size or composition of countries for which a single currency maximizes economic efficiency.

An Optimal Currency Area Can Be Defined as One Which