Post Utme Ims U 2021 Government Question 24

Practice objective / multiple choice question 24 from the 2021 Post Utme Ims U Government examination.

Post Utme Ims U 2021 Government Objective / Multiple Choice
Question 24 POST_UTME_IMS_U • 2021 • GOVERNMENT • objective

The African Union's (AU) efforts to promote economic integration in Africa have been hindered by the lack of a single currency. Discuss the benefits and challenges of adopting a single currency for the AU member states.

Answer Options

Correct Answer A. The adoption of a single currency would promote economic integration by reducing transaction costs and increasing trade among AU member states.
B. The adoption of a single currency would create challenges for AU member states, as it would require significant economic adjustments and potentially lead to economic instability.
C. The adoption of a single currency is not necessary for economic integration, as other forms of economic cooperation can achieve similar goals.
D. The adoption of a single currency would lead to a loss of sovereignty for AU member states, as they would be required to adopt a currency imposed by the AU.
Correct Answer
A
Correct Option:
The adoption of a single currency would promote economic integration by reducing transaction costs and increasing trade among AU member states.

About This Question

This is Post Utme Ims U 2021 Government Question 24. It is one of the objective questions from the 2021 Post Utme Ims U Government examination.

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