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:
“I sometimes think that the price of liberty is not so much eternal vigilance as eternal dirt.”
—George Orwell (1903–1950)
“The man who loves other countries as much as his own stands on a level with the man who loves other women as much as he loves his own wife.”
—Theodore Roosevelt (1858–1919)