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)
“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)