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If the CPI Is 100 in the Base Year and 108

question 45

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If the CPI is 100 in the base year and 108 in the current year,how much did prices rise between the base year and the current year?

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Definitions:

Abbreviations

Shortened forms of words or phrases used for convenience.

Debit

An entry on the left side of an account record, used to increase an asset or expense or decrease a liability, equity, or revenue.

Credit

An accounting entry that increases the balance of liabilities and equity accounts, and decreases the balance of an asset or expense account.

Rent Expense

The cost incurred for renting a property or equipment, recognized as an expense on the income statement.

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