Price Level

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)

    “It is the American vice, the democratic disease which expresses its tyranny by reducing everything unique to the level of the herd.”
    —Henry Miller (1891–1980)