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:
“Forced from home, and all its pleasures,
Afric’s coast I left forlorn;
To increase a stranger’s treasures,
O’er the raging billows borne.
Men from England bought and sold me,
Paid my price in paltry gold;
But, though theirs they have enroll’d me,
Minds are never to be sold.”
—William Cowper (1731–1800)
“Insurrection:... insurrection as soon as circumstances allow: insurrection, strenuous, ubiquitous: the insurrection of the masses: the holy war of the oppressed: the republic to make republicans: the people in action to initiate progress. Let the insurrection announce with its awful voice the decrees of God: let it clear and level the ground on which its own immortal structure shall be raised. Let it, like the Nile, flood all the country that it is destined to make fertile.”
—Giuseppe Mazzini (1805–1872)