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Optimum currency area: Quiz


Question 1: This is so that the market forces of ________ automatically distribute money and goods to where they are needed.
Keynesian economicsNeoclassical economicsMicroeconomicsSupply and demand

Question 2: Specifically, Keynesian economists argue that ________ in the form of deficit spending may be necessary to fight unemployment, which is not possible if states in a monetary union are not allowed to run sufficient deficits.
Fiscal policyCentral bankGovernment spendingGovernment debt

Question 3: The primary criticism of Mundell's theory is that the only area that has optimal conditions for a single currency is one that already has a single currency, a ________.
AmbiguityPropositional calculusFallacyBegging the question

Question 4: The theory of the optimal currency area was pioneered by economist ________.
Lawrence KleinRobert MundellWilliam VickreyJames Tobin

Question 5: ________ is found in both sides of the debate about the euro.
James TobinWilliam VickreyRobert MundellLawrence Klein

Question 6: The theory is used often to argue whether or not a certain region is ready to become a monetary union, one of the final stages in ________.
Trade blocEconomic integrationCustoms unionSingle market

Question 7: Offering a contrary criticism, ________ have supported the disassociation of currencies from political entities entirely.
Friedrich von HayekLudwig von MisesLew RockwellAustrian School

Question 8: [9] Whereas Keynesians see flaws in supranational currencies, Austrians see flaws in any centrally planned currency not determined by a ________ process.
Free marketLibertarianismFriedrich von HayekAnarcho-capitalism

Question 9: Also, its ________ of 31 should have a stabilizing effect;[citation needed] in comparison, the USA has a Gini index of 46.9 (a lower measure indicates a more even distribution of wealth).
United StatesGini coefficientDenmarkLorenz curve

Question 10: Openness with ________ and price and wage flexibility across the region.
Free tradeEconomicsCapitalismFree trade debate


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