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:
“I was like a social worker for lepers. My clients had a chunk of their body they wanted to give away; for a price I was there to receive it. Crimes, sins, nightmares, hunks of hair: it was surprising how many of them has something to dispose of. The more I charged, the easier it was for them to breathe freely once more.”
—Tama Janowitz (b. 1957)
“Adults understandably assume that the level of verbal proficiency a five-year-old displays represents his level of proficiency in all areas of functioning—if he talks like an adult, he must think and feel like one. However, five-year-olds,... belie the promise of adult-like behavior with their child-like, impulsive actions.”
—Dorothy H. Cohen (20th century)