Problem
1. Explain the relationship between output and income for both an individual and an entire economy.
2. A friend of yours is reading a financial blog and comes to you for some advice about GDP. She wants to know what "real" GDP is. How would you explain the concept to her?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.