Suppose that all economies in the world agreed to use

Assignment Help Other Subject

Reference no: EM132308689

Suppose that all economies in the world agreed to use a single currency that would be managed by an independent organization. What would the advantages and disadvantages of this be?

Along with contributing your own answer by Saturday, provide a thorough, thoughtful response to at least one classmate by Tuesday..

ALSO PLEASE COMMENT ON ANOTHER STUDENTS COMMENT BELOW

Valerie:

Having multiple currencies is a little confusing and I could see some benefits to it as well as the disadvantages. My personal opinion however is that it is impractical and would do more harm than good.

A single global currency could eliminate transaction costs. This would affect both ordinary citizens planning to spend money in other countries while traveling and multinational companies pursuing international transactions. This would eliminate the inconvenience of transaction fees when exchanging currencies for when traveling abroad and international transactions would increase.

A disadvantage would be that countries would lose the ability to control their own financial policy. To ensure a stable economy, central banks will increase or decrease their economy by adjusting interest rates. The biggest disadvantage would be that countries that do not do well financially would cause strain for the rest of the world because other countries would have to use their resources to help stabilize that type of situation.

Reference no: EM132308689

Questions Cloud

How will barriers to care-services be addressed : Conclude your paper with summative recommendations/suggestions on the future of health issue amongst the target population

Prepare a report using the given information : Your analytics department needs to run some reports to get information on patients. For each Report Request, look at the list of available fields of data.

How would you apply orems self-care deficit theory to help : How would you apply Orem's self-care deficit theory to help the patient? Compare and contrast the use of Peplau's and Orem's theories for this patient.

Explain to what degree the myth is based on facts : Write a 2 page analysis on why you think this myth came about and why it still may be prevalent today.

Suppose that all economies in the world agreed to use : Suppose that all economies in the world agreed to use a single currency that would be managed by an independent organization.

What training methods does your organization use : Does your organization use e-Learning? What training methods does your organization use? Are your organization's training methods effective?

Discuss how the concepts in this course can be applied : Discuss how the concepts in this course can be applied to real-world situations and increase your chances of career or life success.

What are the components of competitive strategy : What are the components of competitive strategy? Within competitive strategy what is the relevance of a value change framework? What are the implications.

Trace the evolution of your profession : As you gather research, make sure to consider important social, political, and economic movements, such as the types of military

User Account

All Pages