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:
“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)
“Preschoolers sound much brighter and more knowledgeable than they really are, which is why so many parents and grandparents are so sure their progeny are gifted and super-bright. Because children’s questions sound so mature and sophisticated, we are tempted to answer them at a level of abstraction far beyond the child’s level of comprehension. That is a temptation we should resist.”
—David Elkind (20th century)