Gabriela recently got a 10 percent raise. She now purchases 30 percent more in groceries on a weekly basis. Gabriela's income elasticity for groceries is

A record of all transactions between households, firms, and the government of one country and the rest of the world is the

A) balance of trade. B) balance of payments. C) International Monetary Fund. D) government budget.

Which of the following illustrates consumer surplus?

a. Jon and Gabi find the perfect apartment, but it is $100 per month over budget. b. When Amy shops for a new car, she finds dozens of options in her price range. c. Beck finds an online deal for a plane ticket to Miami that is $100 under his budget. d. Stores cannot stock enough round sunglasses after a celebrity promotes the style.