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:
“When rich villains have need of poor ones, poor ones may make what price they will.”
—William Shakespeare (1564–1616)
“There is only one honest impulse at the bottom of Puritanism, and that is the impulse to punish the man with a superior capacity for happiness—to bring him down to the miserable level of “good” men i.e., of stupid, cowardly and chronically unhappy men.”
—H.L. (Henry Lewis)