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:
“I have asked a lot of my emotions—one hundred and twenty stories. The price was high, right up with Kipling, because there was one little drop of something, not blood, not a tear, not my seed, but me more intimately than these, in every story, it was the extra I had. Now it has gone and I am just like you now.”
—F. Scott Fitzgerald (1896–1940)
“Those who profess contempt for men, and put them on a level with beasts, yet wish to be admired and believed by men, and contradict themselves by their own feelings—their nature, which is stronger than all, convincing them of the greatness of man more forcibly than reason convinces them of his baseness.”
—Blaise Pascal (1623–1662)