In a Currency Board Arrangement, Participating Countries Make an Explicit

In a currency board arrangement, participating countries make an explicit legislative commitment to
I. use the currency of the largest (based on real GDP) participating country.
II. exchange domestic currency for a specified foreign currency at a fixed rate and agreed to submit to the board's disciplines to fulfill its obligations.
III. adopt common monetary and fiscal policies prescribed by the board.

A) I only
B) II only
C) II and III only
D) I, II, and III