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:
“The price of telling your troubles is having to listen to advice.”
—Mason Cooley (b. 1927)
“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)