The common currency adopted at the beginning of 1999 by eleven of the fifteen member countries of the European Union was known as:
A)the pound sterling
B)the European Currency Unit
C)the euro
D)the dollar

Question

Quizplus · Accepted Answer

The common currency adopted by eleven member countries of the European Union at the beginning of 1999 was the euro. The other options given, pound sterling and dollar, are the currencies of the United Kingdom and the United States respectively and were not adopted by the European Union. The European Currency Unit (ECU) was a basket of currencies used as the unit of account of the European Communities from 1979 to 1998, but it was replaced by the euro. Therefore, the correct answer is C, the euro.

The Common Currency Adopted at the Beginning of 1999 by Eleven