What are the biggest advantages the U.S. has above the EU in terms of being an Optimum Currency Area?

Question

Quizplus · Accepted Answer

The high mobility of labor force and more transfer payments between regions are major advantages the U.S. has over the EU in terms of being an Optimum Currency Area. The EU has limitations on labor mobility due to language barriers and cultural differences, which makes the U.S. a more flexible currency area. Additionally, the U.S. has a system of transfer payments between states, which helps offset regional imbalances in income and economic growth.

What Are the Biggest Advantages the U