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:
“Who makes ends meet, who’s taking the knock,
Government tariffs, wages, price of stock.
Smoke hangs under the light.”
—Philip Larkin (1922–1986)
“To Time it never seems that he is brave
To set himself against the peaks of snow
To lay them level with the running wave,
Nor is he overjoyed when they lie low,
But only grave, contemplative and grave.”
—Robert Frost (1874–1963)