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:
“From the point of view of the pharmaceutical industry, the AIDS problem has already been solved. After all, we already have a drug which can be sold at the incredible price of $8,000 an annual dose, and which has the added virtue of not diminishing the market by actually curing anyone.”
—Barbara Ehrenreich (b. 1941)
“When science, art, literature, and philosophy are simply the manifestation of personality, they are on a level where glorious and dazzling achievements are possible, which can make a man’s name live for thousands of years. But above this level, far above, separated by an abyss, is the level where the highest things are achieved. These things are essentially anonymous.”
—Simone Weil (1909–1943)