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:
“Mother goddesses are just as silly a notion as father gods. If a revival of the myths of these cults gives woman emotional satisfaction, it does so at the price of obscuring the real conditions of life. This is why they were invented in the first place.”
—Angela Carter (1940–1992)
“There are old heads in the world who cannot help me by their example or advice to live worthily and satisfactorily to myself; but I believe that it is in my power to elevate myself this very hour above the common level of my life.”
—Henry David Thoreau (1817–1862)