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:
“From the point of view of the pharmaceutical industry, the AIDS problem has already been solved. After all, we already have a drug which can be sold at the incredible price of $8,000 an annual dose, and which has the added virtue of not diminishing the market by actually curing anyone.”
—Barbara Ehrenreich (b. 1941)
“The low level which commercial morality has reached in America is deplorable. We have humble God fearing Christian men among us who will stoop to do things for a million dollars that they ought not to be willing to do for less than 2 millions.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)