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:
“How long most people would look at the best book before they would give the price of a large turbot for it?”
—John Ruskin (1819–1900)
“Your mock saint who stands in a niche is not a woman if she have not suffered, still less a woman if she have not sinned. Fall at the feet of your idol as you wish, but drag her down to your level after that—the only level she should ever reach, that of your heart.”
—Emmuska, Baroness Orczy (1865–1947)