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:
“Who makes ends meet, who’s taking the knock,
Government tariffs, wages, price of stock.
Smoke hangs under the light.”
—Philip Larkin (1922–1986)
“Success four flights Thursday morning all against twenty one mile wind started from Level with engine power alone speed through air thirty one miles longest 57 second inform Press home Christmas.”
—Orville Wright (1871–1948)