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:
“After all, it is putting a very high price on one’s conjectures to have a man roasted alive because of them.”
—Michel de Montaigne (1533–1592)
“Reduced to a miserable mass level, the level of a Hitler, German Romanticism broke out into hysterical barbarism.”
—Thomas Mann (1875–1955)