When economists track the performance of the U.S. economy, they pay attention to factors like economic growth, inflation, and unemployment. One economic model, the Phillips Curve, suggests that when unemployment is low, inflation increases, and vice-versa. But is that always true? Listen to learn about the relationship between unemployment and inflation, and about how economists’ interventions can actually change it.
Story Length: 3:27
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Outsourcing happens when a company in the U.S. stops hiring American workers and hires workers in foreign countries instead. The benefit for the U.S. company is that workers in other countries make much less money than American workers, so the company saves money. In the early 2000s, more Americans began to protest against outsourcing because it created unemployment in the U.S. This public radio story introduces a man who built a business around helping companies outsource, and who stands by the practice despite its controversial aspects.
The United States economy has experienced slow but steady growth since the 2007-2009 recession. Historically, one result of an improving economy should be an increase in the overall level of prices – inflation. This has not been the case, however, and inflation has stayed low. Inflation has remained low in part because most people don’t worry about it rising, and they aren’t rushing to buy products before they go up in price. Listen to this story from Planet Money and hear what low inflation sounds like, and how your behavior can directly affect whether prices rise or fall.
This story explores an important economic question: When a kid loses a tooth, how much should the tooth fairy pay? That may sound like a joke, but the tooth fairy’s payoff provides an example of inflation—the amount the price of goods increases each year—and of the economic principle called “income elasticity of demand.” Listen to the story to find out what teeth are going for these days, and what economists have to say about it.
These levels of listening complexity can help teachers choose stories for their students. The levels do not relate to the content of the story, but to the complexity of the vocabulary, sentence structure and language in the audio story.
NOTE: Listenwise stories are intended for students in grades 5-12 and for English learners with intermediate language skills or higher.
These stories are easier to understand and are a good starting point for everyone.
These stories have an average language challenge for students and can be scaffolded for English learners.
These stories have challenging vocabulary and complex language structure.