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Which of the following are reasons the European Union is considered Y currency area? Check all that apply. [:1 Labor mobility [:1 Limited use of scal policy a suboptimal [:1 A single monetary policy that is equally effective across borders [:1 Low economic efficiency gains 4. Economic costs and benefits of a common currency Identify whether each attribute in the following table is an advantage or disadvantage of sharing a currency across country boundaries. Attribute Advantage Disadvantage Lower transaction costs O O Price stability O O Protection from monetary disturbances and speculation O O Speculative attacks during currency transition O O Limited scope for fiscal policy O O