Price Level

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:

    How long most people would look at the best book before they would give the price of a large turbot for it?
    John Ruskin (1819–1900)

    So long as State constitutions say that all may vote when twenty-one, save idiots, lunatics, convicts and women, you are brought down politically to the level of those others disfranchised.
    Susan B. Anthony (1820–1906)