21. Which of these groups report HIGHEST average self-reported happiness?

• A. Those with high school degree that have a high paying job
• B. Those with some college education
• C. Those that have completed college
• D. Those with a graduate degree

22. in a regression of Happiness on income, the "Reverse causality" may arise because

• A. happiness can increase income because happier people work harder
• B. income can increase happiness because people can buy more goods and services
• C. The regression does not include life satisfaction
• D. All of the above

23. What is the most accurate expression for the empirical connection between income and happiness

• A. Money cannot buy happiness
• B. There is an increasing marginal utility of income
• C. Income has a relatively small positive influence on happiness
• D. All of the above

24. What is the most accurate statement

• A. People with more intrinsic goals in life tend to be happier
• B. People with more extrinsic goals in life tend to be happier
• C. People who value both - intrinsic and extrinsic goals tend to be the happiest
• D. Neither intrinsic goals nor extrinsic goals can make people happier.

25. The main reasons why income does NOT have a large impact on happiness

• A. People with higher income have more opportunities in life
• B. People with higher income enjoy higher status
• C. Adaptation and social comparison
• D. All of the above

26. The research on aspirations finds that

• A. Aspirations stay stable as people's income increase
• B. The relative income matters more than absolute income
• C. People tend to look downward when making social comparisons
• D. All of the above

27. The research finds that among Olympic medalists

• A. Gold, silver and bronze medalists are as happy as expected
• B. Silver medalists are more happy than bronze medalists
• C. Bronze medalists are more happy than silver medalists
• D. Silver medalists are more happy than gold medalists

28. The research on adaptation finds that

• A. We adapt only to positive life circumstances but not to negative
• B. Material goods initially provide extra pleasure, but it is usually only transitory.
• C. We adapt faster the more our income grows
• D. All of the above

29. Research finds that people tend to do which of the following?

• A. underestimate the extent of adaptation
• B. underconsume material goods
• C. over-consume leisure
• D. all of the above

30. A "hedonic treadmill" expression is used to mean

• A. Aerobic exercise such as treadmill running increases one's happiness
• B. People enjoy new material goods they are able to purchase
• C. People's happiness usually increases as the living standards improve
• D. People have to continually increase living standards to remain on the same level of happiness