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:
“No performance is worth loss of geniality. ‘Tis a cruel price we pay for certain fancy goods called fine arts and philosophy.”
—Ralph Waldo Emerson (1803–1882)
“For him nor deep nor hill there is,
But all’s one level plain he hunts for flowers.”
—Unknown. The Thousand and One Nights.
AWP. Anthology of World Poetry, An. Mark Van Doren, ed. (Rev. and enl. Ed., 1936)