When measuring the actual output produced in an economy, one should focus on GDP measured in nominal terms

The parent company would want to reward managers based on division revenues because

a. It decreases the incentives for the managers to make good decisions for their division b. It increases the incentives for the managers to make good decisions for their divisions c. It does not change the motivations for the managers d. None of the above

Average product is calculated by dividing total product by the

A) amount of variable and fixed inputs employed. B) quantity of the variable input. C) quantity of the fixed input. D) production function.