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How the GDP Is Like Your GPA

Economics Planet Money

The Gross Domestic Product, or GDP, measures the worth of all the goods and services produced in a country. Knowing the GDP helps countries monitor how strong or weak their economies are. When the GDP gets bigger, conventional wisdom says that the economy is healthy and growing, while a shrinking GDP means that something is wrong. The GDP provides a way to see the fluctuations in a nation’s economy over time. But the usefulness of the GDP is limited. Listen to this story to find out why.

?L LEXILE AUDIO MEASURE

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Story Length: 4:16

Listen to the Story:

Listening Comprehension Questions

  • In what ways did Andrew Carnegie’s libraries serve their communities?
  • How did Carnegie benefit from a library when he was growing up?
  • Which personality traits helped propel Carnegie from poverty to riches? Bring specific details from the story to support your ideas.
  • According to Carnegie, what should rich people do with their money and why? Why was Carnegie known as both generous and “brutal”?

Discussion Themes

  • In your opinion, what should really rich people do with their fortunes?
  • What does it take for a person to rise from “rags to riches”?

Socrative users can import these questions using the following code: SOC-1234

Listening Organizers

  • Fact, Question, Response

  • Language Identification Organizer

  • Deeper Meaning Chart

Related Lessons

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The Invention of the Economy

Household management involves using resources wisely and being thrifty to stay within a budget. The word “economy” comes from the Greek word for household management, oikonomia. This management is difficult when people have too little money to buy what they need, which was the case for many after the stock market crashed in 1929. In an effort to make sense of what was going on, members of the U.S. government began to talk about what they called “the economy,” and they developed methods to quantify the situation and account for economic fluctuations. Listen to the story to learn more about the invention of what we call the economy and some of the means by which we measure its strength.

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The History of Light and Economic Growth

How people have made artificial light over the past 4,000 years reflects the history of economic growth in the world. One economist has explored the cost of light, starting in ancient Babylonian times and ending in the 1990s. He discovered that for most of the past four millennia, light was very expensive. Then, in the past 200 years, scientific advances caused the cost of light to drop precipitously, and economies grew with a speed and intensity unknown before. Listen to hear how light became cheap and how its cost helps show how economic growth happens.

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The Island of Stone Money

This story looks at a small island in the Pacific Ocean called Yap to answer a big question: What is money? On Yap, limestone is considered valuable, much like gold and silver in other places. But because limestone is very heavy, people can’t move it easily. As a result, money has become more abstract. People agree to its value, but don’t necessarily have the limestone itself. Listen to learn what money is and to explore how people in our society, too, buy and sell by using something (coins and bills) that represents something valuable, rather than using the valuable thing itself.

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Lexile Audio Measure

The Lexile Audio Measure is an indicator of the complexity of an audio passage. It is based on a scientifically developed scale with a maximum score of 2000L.

How to Use Lexile Audio Measures

Find stories at the right level of complexity for your students, so that they will be challenged without being frustrated. The measures are categorized into low, medium, or high in order to aid teachers in story selection when they do not know students’ Lexile listening levels.

Listening Level Lexile Audio Measures
0L -1250L
1251L -1555L
1556L-2000L
Recommended Lexile Audio Measures by Grade Level

These recommended ranges are for instructional use of Listenwise audio content in combination with supports such as the interactive transcript, etc.

Grade Lexile Audio Measures (Recommended Ranges)
1 215L - 610L
2 490L - 855L
3 725L - 1060L
4 945L - 1250L
5 1045L - 1350L
6 1125L - 1430L
7 1190L - 1500L
8 1250L - 1555L
9 1300L - 1610L
10 1345L - 1655L
11/12 1385L - 1695L
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