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:
“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)
“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)