Which of the following is a reason why Great Britain and the United States could finance their deficits by borrowing private money since the early 1970s?
A. Rapid development of global capital markets
B. Shortage of International Monetary Fund grants available for disbursal
C. High interest rate charged by the International Monetary Fund
D. Establishment of currency boards in these countries
E. Decline of the Bretton Woods system
A
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Indicate whether the statement is true or false