Assume one year the basket of goods has a price level of $100, and the...
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Finance
Assume one year the basket of goods has a price level of $100, and the following year that same basket of goods is priced at $108. What was the rate of inflation over that year?
Enter your answer as a percentage, rounded to two decimals, and without the percentage sign ('%'). For example, if your answer is 0.123456, then it is equivalent to 12.35%, so you should enter 12.35 as the answer.
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