Your institution may have a subscription to The Economist news magazine, or you may be able to
Question:
Your institution may have a subscription to The Economist news magazine, or you may be able to find this graphic on the web. The March 23, 2019 issue, in a section entitled "Graphic Detail: Happiness Economics," makes the same point as Figure 1.
a. Does happiness rise with the level of real GDP per person?
b. Contrast the growth and happiness experience of China and India over the period from 2005-08 to 2015-18?
Data from Figure 1
Transcribed Image Text:
Average life satisfaction (on a 10-point scale) 5 6 7 00 6 Denmark Canada Finland Switzerland Saudi Arabia New Zealand Norway Venezuela Costa Rica Israel pain Ireland Czech Republic Mexico Brazil Puerto Rico Greed France Germany Italy U.S. United Kingdom Jamaica India Jordan Guatemala Algeta Panama Chile Argentina Croa Colombia Malaysia Lithuania Slovenia Kuwai Tawan Japan Cyprus Singapore UAE Honduras Salvador Belarus Cuba Bolivia Thailand Lebanon Kazakhstan Uruguay Estonia, Korea Portugal Hong Kong Egypt Iran South Africa Hungary Ghana Laos Pakistan Indonesia Moldova Kyrgyzstan Nicaragua Angola Morocco Philippines Bangladesh Si Lanka Armenia Pery Romania Russia Slovak Republic China Latvia Turkey Botswana Macedonia Zambia Nigeria Yemen Afghanistan Burundi Rwanda Nepal Malawi Kanya 4 Uganda Tanzania Ethiop Niger Burkina Faso Chad Cameroon Iraq Cambodia Benin Zimbabwe Togo 3 T $500 $1,000 $2,000 Each dot represents one country Georgia Bulgaria Note: Not all nations are labeled. $16,000 $4,000 $8,000 GDP per person (2006, at PPP prices), log scale The line around the dot shows how satisfaction relates to income within that country: Higher-income people are more satisfied $32,000 Higher-income and lower- income people are equally satisfied
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