POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Visitors and business people can travel without paying airport taxes or luggage fees.
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Countries can raise taxes on foreigners without hurting their own citizens.
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Countries can give up control of their own economies to the most powerful country.
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Visitors and businesses people can go from country to country using the same money.
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Detailed explanation-1: -When a single world currency is implemented it will boost the volume of trade and transactions between countries. There will be price transparency of importing and exporting goods.
Detailed explanation-2: -The single currency enhances price transparency and facilitates comparison, in particular in the era of new technologies, and thus promotes competition. More competition results in lower prices and greater innovation, in turn leading to newer and better products and services for consumers.
Detailed explanation-3: -With a universal currency, the supply and value of money would no longer be controlled at the national level. The entire world would have to agree on how many bills should be in circulation, and what interest rates to adopt.