Price Level

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:

    Forced from home, and all its pleasures,
    Afric’s coast I left forlorn;
    To increase a stranger’s treasures,
    O’er the raging billows borne.
    Men from England bought and sold me,
    Paid my price in paltry gold;
    But, though theirs they have enroll’d me,
    Minds are never to be sold.
    William Cowper (1731–1800)

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    Thomas Henry Huxley (1825–95)