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:
“A work of art that contains theories is like an object on which the price tag has been left.”
—Marcel Proust (1871–1922)
“To punish drug takers is like a drunk striking the bleary face it sees in the mirror. Drugs will not be brought under control until society itself changes, enabling men to use them as primitive man did: welcoming the visions they provided not as fantasies, but as intimations of a different, and important, level of reality.”
—Brian Inglis (b. 1916)