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:
“How long most people would look at the best book before they would give the price of a large turbot for it?”
—John Ruskin (1819–1900)
“So long as State constitutions say that all may vote when twenty-one, save idiots, lunatics, convicts and women, you are brought down politically to the level of those others disfranchised.”
—Susan B. Anthony (1820–1906)