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Econ 1-35 Economics of Happiness

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Econ 1-35 Economics of Happiness

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E.4.1 Explain how markets underproduce public goods, and analyze the role of government to resolve those market failures.
E.4.2 Describe how the government taxes negative externalities (spillovers) and subsidizes positive externalities to resolve the inefficiencies they cause.
E.4.3 Describe the major revenue and expenditure categories in state and federal budgets and their respective proportions, and the challenges of achieving a balanced budget. (E)
E.4.4 Determine whether different types of taxes (e.g., income tax, sales tax, and Federal Income Contributions Act [FICA] tax including Social Security and Medicare) are progressive, proportional, or regressive. (E)
GE.7.1 Define and explain fiscal policy and its tools. (E)
GE.7.2 Define and explain monetary policy and its tools. (E)
GE.7.3 Analyze how the government uses fiscal policy to promote price stability, full employment, and economic growth.
GE.7.4 Explain how the use of fiscal policy affects budget deficits or surpluses and the national debt.
GE.7.5 Analyze how the Federal Reserve uses monetary policy to promote price stability, full employment, and economic growth. (E)

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Lance Hiles
Lance Hiles
Estados Unidos

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Econ 1-35 Economics of Happiness
 

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Econ 1-35 Economics of HappinessVersión en línea

E.4.1 Explain how markets underproduce public goods, and analyze the role of government to resolve those market failures. E.4.2 Describe how the government taxes negative externalities (spillovers) and subsidizes positive externalities to resolve the inefficiencies they cause. E.4.3 Describe the major revenue and expenditure categories in state and federal budgets and their respective proportions, and the challenges of achieving a balanced budget. (E) E.4.4 Determine whether different types of taxes (e.g., income tax, sales tax, and Federal Income Contributions Act [FICA] tax including Social Security and Medicare) are progressive, proportional, or regressive. (E) GE.7.1 Define and explain fiscal policy and its tools. (E) GE.7.2 Define and explain monetary policy and its tools. (E) GE.7.3 Analyze how the government uses fiscal policy to promote price stability, full employment, and economic growth. GE.7.4 Explain how the use of fiscal policy affects budget deficits or surpluses and the national debt. GE.7.5 Analyze how the Federal Reserve uses monetary policy to promote price stability, full employment, and economic growth. (E)

por Lance Hiles
1

Happiness depends upon a balance of work & play. If you're ___ all the ___ , happiness levels decline. But changing from a part time job to a full time job makes people happier.

  
  
2

Economic growth may not include all the things that make us happy, like ___ & ____ . It includes things like cigarettes, highway carnage, & pollution, per Robert Kennedy.

  
  
3

People who are ____ are less satisfied with life, & they are even less satisfied if they live in a wealthy country.

4

Bhutan: Gross National Happiness (GNH) is more important than Gross National Product (GNP). GNH measures the social, physical, ___ and __ health of its citizens.

  
  
5

Some people might be naturally happier than others, but research finds that ___ ___ & situations can impact happiness levels as well. One particular situation is unemployment.

  
  
6

____ ____ might not be the way to determine happiness, because it only measures goods & money. It also contributes to climate change & the gap between rich & poor, which are correlated with unhappiness.

  
  
7

Some believe there is no relationship between economic growth & personal happiness. They believe that people have a natural predisposition to unhappiness or joy. This is called a ____ ____ for happiness. Any change to this [same] is temporary.

  
  
8

Easterlin Paradox argues there is no link between income & happiness: 1 explanation is that it is not always true. It is only true in affluent nations where ____ ____ are being met. It is not true in poor countries, where [same] are not met.

  
  
9

Beyond some level of income, the value of each additional dollar has diminishing returns in terms of well-being. In the U.S., the income was $75,000 or $82,000. After that, researchers found a person's happiness levels ____ ____ ____ .

     
  
  
10

Easterlin Paradox argues there is no link between income & happiness: 1 explanation involves the ____ ____ , which argues that conveniences become needs & cease to be enjoyable, & we are unhappy to lose them, but not happy to possess them.

  
  
11

Some believe money has diminishing returns on happiness. 1 person wins $100K, but they are a million. 1 person wins $20K, but they make $40K a year. The person who wins less will be happier, because the prize is a ____ ____ of their income.

  
  
12

Easterlin Paradox argues there is no link between income & happiness: 1 explanation is that we derive happiness from ____ rather than income, so if an entire country gets richer, even if our income goes up, our [same] stays the same.

13

____ ____ argues that there is no relationship between happiness & income levels.

  
  
14

Economists believe there is a correlation between greater income and greater happiness, but they've also found that more money has ____ ____ when it comes to happiness.

  
  
15

If millionaire Elon Musk lives in an addition with other affluent people, he feels less happy. If he lives with the middle class, he feels happier, even with the same income. Research says people are happier when they ____ ____ the poor.

  
  
16

Some people believe that getting ____ ____ for doing something can make us feel happy. You wash your friend's car as a gift, but then the friend tries to pay you. Now, the act of kindness & the warm feeling disappear.

  
  
17

The happiness you get from income depends more on the income of the people around you. This is called the ____ ____ hypothesis. It argues that income-based happiness is relative.

  
  
18

The field of Economics is based on the idea that human beings have ____ ____ . This implies that it is better to have more, & that we can tell what makes us better by what people spend money on.

  
  
19

Unhappiness is caused by inflation, credit card debit, & ____ ____ .

  
  
20

The ____ of ____ has promoted the pursuit of happiness for hundreds of years. The U.S. is based upon pursuit of happiness, as well as the pursuit of freedom & staying alive.

  
  
 
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