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)
“There are old heads in the world who cannot help me by their example or advice to live worthily and satisfactorily to myself; but I believe that it is in my power to elevate myself this very hour above the common level of my life.”
—Henry David Thoreau (1817–1862)