Price level: Difference between revisions
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Price levels are the theoretical conception that aim to relate as well as distinguish between [[nominal]] measures and ''real'' measures. | Price levels are the theoretical conception that aim to relate as well as distinguish between [[nominal]] measures and ''real'' measures. | ||
A price level is typically measured by means of a price index such as a [[consumer price index]]. | |||
Latest revision as of 10:41, 14 February 2012
Definition
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.
Price levels are the theoretical conception that aim to relate as well as distinguish between nominal measures and real measures.
A price level is typically measured by means of a price index such as a consumer price index.