Which of the following statements about the euro is true?
A)It was adopted by all existing EU members when it was first initiated.
B)It must be adopted by countries as a precondition to joining the EU.
C)It cannot be used by countries that are not members of the EU.
D)It was designed to eliminate currency as a barrier to trade in the EU.

Question

Quizplus · Accepted Answer

The statement "It was designed to eliminate currency as a barrier to trade in the EU" is true. This was one of the main reasons for creating the euro, as it facilitates trade and economic integration among EU countries by eliminating currency exchange costs and risks.

A) is false as not all existing EU members adopted the euro when it was first initiated. 
B) is partially true, as adopting the euro is a requirement for joining the EU, but it is not the only precondition. 
C) is false, as only EU member countries can use the euro as their currency.

Which of the Following Statements About the Euro Is True