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:
“They give us a pair of cloth shorts twice a year for all our clothing. When we work in the sugar mills and catch our finger in the millstone, they cut off our hand; when we try to run away, they cut off our leg: both things have happened to me. It is at this price that you eat sugar in Europe.”
—Voltaire [François Marie Arouet] (1694–1778)
“Jealousy is indeed a poor medium to secure love, but it is a secure medium to destroy one’s self-respect. For jealous people, like dope-fiends, stoop to the lowest level and in the end inspire only disgust and loathing.”
—Emma Goldman (1869–1940)