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:
“This state is full of these log cabin Abe Lincolns with price tags on ‘em. The louder he yells, the higher his price.”
—Robert Rossen (1908–1966)
“Even a nine story pagoda must be built up level by level.”
—Chinese proverb.