Which sentences about the european union (eu) are true? eu nations that use the euro lose control over interest rates. eu citizens need a passport to travel within the eu. the eu is an economic union of european nations. eu nations are ruled by an elected monarch. eu nations use a common currency called euro.

The correct answers are the following

The EU is an economic union and free trade area, which is also currently strenghtening its bonds between member states (MS) so that it starts to become a political union too. There is free movement of people and goods, therefore its citizens do not need a passport to travel between MS.

Some of its MS have adopted a common currency called euro (not all). The ones who have joined the monetary union, have rejected to control the monetary policy at the state level and, instead, the European Central Bank (ECB) is in charge of conducting it and handling its mechanisms: the money supply, the intereset rate, the reserves rate, open market operations, etc.

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