Which of the following has exchange-rates permanently fixed between countries and a single monetary authority that conducts a single monetary policy for all member countries?
A)A free trade area
B)A monetary union
C)A currency board
D)A special economic zone

Question

Quizplus · Accepted Answer

A monetary union is a type of economic integration where member countries share a single currency and a single monetary policy conducted by a central bank. Exchange rates are permanently fixed between countries, as each member country gives up control over its own monetary policy. Examples of monetary unions include the Eurozone and the Eastern Caribbean Currency Union.

Which of the Following Has Exchange-Rates Permanently Fixed Between Countries