The organization formed by the members of the European Union in 1979 based on the creation of the European currency unit of account,limited exchange rate flexibility among members,and formation of the European Monetary Fund is known as the:
A)European Currency Unit
B)European Monetary Cooperation Fund
C)European Monetary System
D)European Monetary Institute

Question

Quizplus · Accepted Answer

The organization formed by the members of the European Union in 1979 based on the creation of the European currency unit of account, limited exchange rate flexibility among members, and formation of the European Monetary Fund is known as the European Monetary System. Option A (European Currency Unit) represents only the currency unit, option B (European Monetary Cooperation Fund) is not a correct term, and option D (European Monetary Institute) was established in 1994 as a forerunner to the European Central Bank.

The Organization Formed by the Members of the European Union