As one of the largest trading blocs, the European Union has created their own currency to ________
A) increase the cost of trade for nonmember nations
B) minimize widespread imbalances among member nations
C) keep inflation rates high
D) make transactions less expensive
E) move towards the goal of becoming one country with several states
Answer: D
Explanation: By switching to a common currency, these countries have made financial transactions simpler and less expensive. According to EU leadership, the euro has simplified commerce for consumers and businesses, lowered inflation and interest rates, improved transparency in pricing, provided a more stable currency, and given the EU a stronger presence in global financial markets.
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