Assume that Country X and Country Y are trading partners. If the average income in Country X increases, which of the following will occur in the foreign exchange market? Responses The demand for Country X's currency will increase, and Country X's currency will appreciate. The demand for Country X's currency will increase, and Country X's currency will appreciate. The demand for Country Y's currency will increase, and Country X's currency will depreciate. The demand for Country Y's currency will increase, and Country X's currency will depreciate. The demand for Country Y's currency will increase, and Country X's currency will appreciate. The demand for Country Y's currency will increase, and Country X's currency will appreciate. The supply of Country X's currency will decrease, and Country X's currency will appreciate. The supply of Country X's currency will decrease, and Country X's currency will appreciate. The supply of Country Y's currency will increase, and Country Y's currency will depreciate