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:
“Money won is twice as sweet as money earned.”
—Richard Price (b. 1949)
“For him nor deep nor hill there is,
But all’s one level plain he hunts for flowers.”
—Unknown. The Thousand and One Nights.
AWP. Anthology of World Poetry, An. Mark Van Doren, ed. (Rev. and enl. Ed., 1936)