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:
“If there is a price to pay for the privilege of spending the early years of child rearing in the driver’s seat, it is our reluctance, our inability, to tolerate being demoted to the backseat. Spurred by our success in programming our children during the preschool years, we may find it difficult to forgo in later states the level of control that once afforded us so much satisfaction.”
—Melinda M. Marshall (20th century)
“Helping children at a level of genuine intellectual inquiry takes imagination on the part of the adult. Even more, it takes the courage to become a resource in unfamiliar areas of knowledge and in ones for which one has no taste. But parents, no less than teachers, must respect a child’s mind and not exploit it for their own vanity or ambition, or to soothe their own anxiety.”
—Dorothy H. Cohen (20th century)