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Yes, the two fractions are equivalent because you can find a greatest common factor in both the numbers.  In this case, the GCF is 4 because it goes into both 4 and 8.  Then, you divide each part of the fraction by 4.  Then, you get the answer 1/2.  Therefore, the fractions are equivalent.
Yes, because 4/8 can be simplified into 1/2.

4/8 = 3/6 = 1/2
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