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.
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Famous quotes containing the words price and/or level:
“I don’t want to read about some of these actresses who are around today. They sound like my niece in Scarsdale. I love my niece in Scarsdale, but I won’t buy tickets to see her act.”
—Vincent Price (1911N)
“There is only one honest impulse at the bottom of Puritanism, and that is the impulse to punish the man with a superior capacity for happiness—to bring him down to the miserable level of “good” men i.e., of stupid, cowardly and chronically unhappy men.”
—H.L. (Henry Lewis)