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:
“It doesn’t do good to open doors for someone who doesn’t have the price to get in. If he has the price, he may not need the laws. There is no law saying the Negro has to live in Harlem or Watts.”
—Ronald Reagan (b. 1911)
“As the tragic writer rids us of what is petty and ignoble in our nature, so also the humorist rids us of what is cautious, calculating, and priggish—about half of our social conscience, indeed. Both of them permit us, in blessed moments of revelation, to soar above the common level of our lives.”
—Robertson Davies (b. 1913)