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 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)
“The low level which commercial morality has reached in America is deplorable. We have humble God fearing Christian men among us who will stoop to do things for a million dollars that they ought not to be willing to do for less than 2 millions.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)