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 don’t want to read about some of these actresses who are around today. They sound like my niece in Scarsdale. I love my niece in Scarsdale, but I won’t buy tickets to see her act.”
—Vincent Price (1911N)
“Those who profess contempt for men, and put them on a level with beasts, yet wish to be admired and believed by men, and contradict themselves by their own feelings—their nature, which is stronger than all, convincing them of the greatness of man more forcibly than reason convinces them of his baseness.”
—Blaise Pascal (1623–1662)