Recall the Application about the link between happiness and GDP to answer the following question(s). Comparing changes in happiness to changes in per capita income over the last 30 years, economists at Dartmouth College and Warwick University have measured levels of happiness in the United States and United Kingdom based on income levels, ethnicity, age, and gender.According to the article, how did the researchers conclude work may hinder happiness, even with higher income.
What will be an ideal response?
In their study, Blanchflower and Oswald found that controlling for income,
education, and other personal factors, happiness among men and women in the U.S. reaches a minimum at the ages of 49 and 45, respectively. Since these are also the years in which earnings are usually the highest, it does suggest that work takes its toll on happiness.
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“Assume that all individuals have perfect information about prices now and in the future, that they have identical tastes, that all markets are competitive, and that there is no government." This statement is an example of how economists
A. apply the law of supply and demand. B. employ marginal analysis. C. are prevented from getting correct answers. D. ignore reality. E. use unrealistic assumptions to develop theory.
Entry of new firms into a perfectly competitive market raises the product's price
Indicate whether the statement is true or false
Instruments which provide payments to holders of bonds in the event of default are known as ________
A) collateralized bond obligations B) tertiary payment devices C) credit default swaps D) mortgage-backed securities
Figure 1A.1Refer to Figure 1A.1. The slope of the line between the points where hours worked per week are 20 and hours worked per week are 30 is:
A. 0.2. B. 5. C. 10. D. 50.