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 have asked a lot of my emotions—one hundred and twenty stories. The price was high, right up with Kipling, because there was one little drop of something, not blood, not a tear, not my seed, but me more intimately than these, in every story, it was the extra I had. Now it has gone and I am just like you now.”
—F. Scott Fitzgerald (1896–1940)
“No man loses ever on a lower level by magnanimity on a higher.”
—Henry David Thoreau (1817–1862)