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Assume the inflation rate falls from 4 percent to 2 percent. This means that
Social Comparison
The process by which individuals assess their own abilities, achievements, and conditions in comparison to others.
Upward Social Comparison
The process by which individuals compare themselves to others who are perceived to be better off or superior in some way.
Downward Social Comparison
Downward social comparison is a process where individuals compare themselves to others who are less well off in order to feel better about their own situation.
Self-Esteem
An individual's subjective evaluation of their own worth, encompassing beliefs and emotions about oneself.
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