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Find the slope and the y-intercept
-7x - 8y = 56
Purchasing Power
The ability of an individual, firm, or group to purchase goods and services with a given unit of currency.
Price Level
The average cost across all sectors of goods and services produced in the economy.
Percent
A mathematical term describing a fraction or ratio as parts per hundred, used to indicate proportions and changes in quantities.
Deflation
A decline in the general price level of goods and services, often indicating a reduction in the supply of money and credit in the economy.
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