Norway named happiest country on Earth

Norway is the happiest country on Earth, Americans are getting sadder, and it takes more than just money to be cheery, according to a new report.

So Norway vaulted to the top slot in the annual World Happiness Report, released on Monday, despite the plummeting price of oil - a key part of its economy.

Income in the United States has gone up over the past decade, but happiness is declining and the US slipped to 14th.

Ireland was one place lower in 15th, with the UK 19th, sandwiched between Luxembourg and Chile.

Money does matter, with most of the countries at the bottom of the list desperately poor, and the Central African Republic placed last of 155.

But after a certain point it does not buy extra happiness, experts say.

Economists calculate the rankings based on income and life expectancy, along with people's feelings about social support, personal freedom, corruption and generosity.

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