The value of what is produced per worker, or per hour worked, is called ____________.

If a buyer enjoys a consumer surplus of $25 when he purchases a good for $50, his willingness to pay for the good is ________

A) $2 B) $25 C) $50 D) $75

The exchange rate is determined by the interaction of the supply and demand for currencies in which exchange rate system is:

A) fixed. B) flexible. C) all of the above. D) none of the above.