The price level is:
A)the rate of inflation.
B)a measure of overall prices at a particular point in time.
C)the percentage change in a price index such as the CPI.
D)the price of a specific good in comparison to the prices of other goods and services.The price level is a measure of overall prices at a particular point in time.

Question

Quizplus · Accepted Answer

The price level refers to the average of current prices across the entire spectrum of goods and services produced in the economy, typically measured at a specific point in time.

The Price Level Is