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:
“A work of art that contains theories is like an object on which the price tag has been left.”
—Marcel Proust (1871–1922)
“Reduced to a miserable mass level, the level of a Hitler, German Romanticism broke out into hysterical barbarism.”
—Thomas Mann (1875–1955)
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