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:
“When rich villains have need of poor ones, poor ones may make what price they will.”
—William Shakespeare (1564–1616)
“[A writer] should try not to be too far, personally, below the level of his work.”
—Elizabeth Bowen (1899–1973)