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Category: Economics
If everyone in the world spoke the same language, would the world be closer to or further from being an optimal currency area? Explain.
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Category: Economics
How important is labor mobility in determining whether an area is an optimal currency area?
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Category: Economics
Country 1 produces good X, and country 2 produces good Y. People in both countries begin to demand more of good X and less of good Y. Assume that there is no labor mobility between the two countries and that a flexible exchange rate system exists. What will happen to the unemployment rate in country 2? Explain.
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Category: Economics
What is an optimal currency area?
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Category: Economics
Country X wants to lower the value of its currency on the foreign exchange market. Under a flexible exchange rate system, how can it do that?
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