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1 if the cpi in january of 2007 was is 2024 and the cpi in

1. If the CPI in January of 2007 was is 202.4, and the CPI in January of 2008 was 211.1, what was the rate of inflation that year? What can you say about the number you calculated-is it "good" or "bad" and how do you know?

2. If inflation is the amount you calculated in #2, how long before our prices double?

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