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Tasya [4]
3 years ago
15

How does this quote by Albert Einstein reflect the limited nature of GDP and health of an economy? "Not everything that counts c

an be counted, and not everything that can be counted counts." —Albert Einstein
Social Studies
1 answer:
dem82 [27]3 years ago
7 0

Answer:

Albert Einstein quote is explaining that there are some things, that are extremely important for human beings, but that are not easily quantifiable.

This relates to GDP in the sense that GDP is only a measure of the monetary value of all final goods and services produced within an economy in a given year. While GDP can shed some light on a country's economic health, very important things for social well-being are not included in the GDP calculation.

This makes GDP only a partial measure of social well-being, that should be analyzed carefully when making conclusions about the economy and health of a nation.

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Offshoring of unskilled workers from the home country to a foreign country will cause an increase in the wages for skilled workers in the home country.

<h3>What is the objective of Offshoring?</h3>

Offshoring is the process of moving a company's operations or ownership of a full business process to a nation other than the one where the business is based.

When unskilled workers are offshored to a foreign country from their home country it causes an increase in the wages of skilled workers in the home country due to an increase in the demand for the workers in the country.

Learn more about Offshoring, here:

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