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Economic and Monetary Union of the European Union: Quiz


Question 1: On 1 July 1990, exchange controls were abolished, thus capital movements were completely liberalised in the ________.
European Economic CommunityEuropean Coal and Steel CommunityEuropean UnionEuropean Communities

Question 2: The European Economic and Monetary Union (EMU) consists of three stages coordinating economic policy, achieving economic convergence (that is, their economic cycles are broadly in step) and culminating with the adoption of the ________, the EU's single currency.
Pound sterlingEuropean Central BankEurozoneEuro

Question 3: Of the pre-2004 members, the United Kingdom and ________ have not joined ERM II and Denmark remains in ERM without proceeding to the third stage.

Question 4: All member states of the ________ are expected to participate in the EMU.
GermanyDenmarkEuropean UnionEuropean Parliament

Question 5: ________, Estonia, Latvia, and Lithuania are the current participants in the exchange rate mechanism.

Question 6: There have been debates as to whether the ________ countries constitute an optimum currency area.
European integrationEuropean Economic AreaSchengen AreaEurozone

Question 7: On 1 June 1998, the ________ (ECB) is created, and in 31 December 1998, the conversion rates between the 11 participating national currencies and the euro are established.
Economic and Financial Affairs CouncilEuro GroupEurozoneEuropean Central Bank

Question 8: The project experienced serious setbacks from the crises arising from the non-convertibility of the US ________ into gold in August 1971 (i.e.
DollarJamaican dollarCayman Islands dollarUnited States dollar

Question 9: An important element of this is the ________ ("ERM II"), in which candidate currencies demonstrate economic convergence by maintaining limited deviation from their target rate against the euro.
EurozoneStability and Growth PactEuropean Exchange Rate MechanismEuropean Central Bank

Question 10: The ________ is the current set of conditions of entry for states wanting to join the EU.
European integrationBarroso CommissionEuropean UnionCopenhagen criteria


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