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

Question

Quizplus · Accepted Answer

Since the early 1970s, the rapid development of global capital markets has allowed developed countries such as Great Britain and the United States to finance their deficits by borrowing private money, as opposed to drawing on International Monetary Fund grants.

Which of the Following Is a Reason Why Great Britain