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:
“No performance is worth loss of geniality. ‘Tis a cruel price we pay for certain fancy goods called fine arts and philosophy.”
—Ralph Waldo Emerson (1803–1882)
“All’s oblique;
There’s nothing level in our cursed natures
But direct villainy. Therefore be abhorred
All feasts, societies, and throngs of men!”
—William Shakespeare (1564–1616)