A price level is a hypothetical measure of overall prices for some set of goods and services, in a given region during a given interval, normalized relative to some base set. Typically, a price level is approximated with a price index.
Read more about Price Level: Theoretical Foundation, Significance
Famous quotes containing the words price and/or level:
“Cecil Graham: What is a cynic?
Lord Darlington: A man who knows the price of everything and the value of nothing.”
—Oscar Wilde (1854–1900)
“The man who loves other countries as much as his own stands on a level with the man who loves other women as much as he loves his own wife.”
—Theodore Roosevelt (1858–1919)