Is it true that money and power enhances the level of happiness?

Depends: It seems that happiness is more associated with the difference between what you expect and what you have. Billionaires become unhappy when their worth falls to the hundreds of millions. People of modest means can be extremely happy without having either power or wealth. So money is neither necessary nor sufficient to achieve happiness.

$$$$$$: I would say that would only be true if you can use that money and power to help others. If you really think about it, the most soul-filling moments we experience are when we see joy in someone else's face. Great question for this time of year:).