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:
“Thou blind man’s mark, thou fool’s self-chosen snare,
Fond Fancy’s scum and dregs of scattered thought,
Band of all evils, cradle of causeless care,
Thou web of will whose end is never wrought;
Desire! desire, I have too dearly bought
With price of mangled mind thy worthless ware;”
—Sir Philip Sidney (1554–1586)
“Nihilism as a symptom that the losers have no more consolation: that they destroy in order to be destroyed, that without morality they no longer have any reason to “resign themselves”Mthat they put themselves on the level of the opposite principle and for their part also want power in that they compel the mighty to be their hangmen. This is the European form of Buddhism, renunciation, once all existence has lost its “meaning.””
—Friedrich Nietzsche (1844–1900)