In the example you specified, the first font-size specified ( 16px ) will provide a backup for browsers that do not support rem . Browsers that support rem devices will use the last font-size ( 1rem ) because it is defined after the first and therefore replaces it.
body, button, input, select, textarea { color: #404040; font-family: sans-serif; font-size: 16px; font-size: 1rem; line-height: 1.5; }
Here is CANIUSE which supports browser in detail, etc. This is actually really good support; it is only really IE8 or lower that it will fail: http://caniuse.com/rem
Here's a good article on REM units: http://www.sitepoint.com/understanding-and-using-rem-units-in-css/
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