A measure of overall prices at a particular point in time is called

Question

Quizplus · Accepted Answer

The price level is a measure of overall prices at a particular point in time. A is incorrect because a relative price is the price of one good or service in comparison to another. C is incorrect because a real price is a price that has been adjusted for inflation, i.e., its purchasing power. D is incorrect because indexing is the process of using a price index to adjust for inflation. E is incorrect because inflation is the rate at which the price level is increasing over time.

A Measure of Overall Prices at a Particular Point in Time