Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y

The income elasticity of demand is a measure of the responsiveness of the

A) quantity of a good demanded to changes in income. B) consumer's income to a change in the price of the goods he or she consumes. C) quantity of a good demanded to changes in its price. D) quantity of a good demanded to changes in another good's price.

A nation's official reserve transaction account

A) is always a positive number. B) is always a negative number. C) is always equal to zero. D) compensates for the differences in the current and capital accounts.