Describe the underlying factors that explain how financial status influences happiness.

What will be an ideal response?


Ans: Students should explain the nuances in the amount of income someone earns and their reported level of happiness. Students should explain that meeting basic needs plays a large role in perceived happiness, and that thriftiness is a factor as well.
Cognitive Domain: Analysis
Answer Location: Determinants of Subjective Well-Being
Difficulty Level: Hard

Psychology

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