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 was like a social worker for lepers. My clients had a chunk of their body they wanted to give away; for a price I was there to receive it. Crimes, sins, nightmares, hunks of hair: it was surprising how many of them has something to dispose of. The more I charged, the easier it was for them to breathe freely once more.”
—Tama Janowitz (b. 1957)
“Insurrection:... insurrection as soon as circumstances allow: insurrection, strenuous, ubiquitous: the insurrection of the masses: the holy war of the oppressed: the republic to make republicans: the people in action to initiate progress. Let the insurrection announce with its awful voice the decrees of God: let it clear and level the ground on which its own immortal structure shall be raised. Let it, like the Nile, flood all the country that it is destined to make fertile.”
—Giuseppe Mazzini (1805–1872)