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:
“For what were all these country patriots born?
To hunt, and vote, and raise the price of corn?”
—George Gordon Noel Byron (1788–1824)
“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)