The measurement of Happiness by A. Pence in a journal called Applied Econometrics (volume 44, pages 18-27)

The measurement of Happiness by A. Pence in a journal called Applied Econometrics (volume 44, pages 18-27) published in 2003
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INSTRUCTIONS:
Task one: try to use formal language as much as possible

Task two: let the description be as formal as possible and try to use joining words.

Each task should be half a page, in that a total of 1 page

TASK ONE.
You have found an article. The measurement of Happiness by A. Pence in a journal called Applied Econometrics (volume 44, pages 18-27) published in 2003 that is relevant to your research topic. How would you write the following information in your research and by avoiding plagiarism? Remember to include references to your source and write the reference section at the end of your writing.

In the last 50 years, there has been no apparent increase in personal happiness in the western nations despite steadily growing economies. In both Europe and the USA, surveys have found that no greater level of happiness since the 1950s which seems strange since wealthier people generally claim to be happier than poorer people. In America, for example, more than a third of the richest group said that they were `very happy` while only half of this number of the poorest made the same claim. Although it would be logical to expect that rising national wealth would lead to greater national happiness, this has not happened. Individually, more money does seem to increase happiness but when everyone gets richer, no one appears to feel better.
Economics have recently paid more attention to studying happiness instead of more traditional GDP per person. One suggestion has been that people rapidly get used to improvements and therefore, devalue them. Central heating is a good example and it was a luxury item in 30 years ago but today, it is standard in nearly every home.