11.   Thus a rise in the price level leads to a fall in the equilibrium level of aggregate demand.

12.   In order to deceive the markets, senior financial advisers had undertaken a scheme artificially to support the price level of Blue Arrow shares.

13.   Yet another formulation expresses the fair share price not in the form of a price level but in the form of the price-earnings ratio.

14.   Instead, the theory is usually expressed in terms of changes in price levels in different countries, that is, in terms of differential inflation rates.

15.   Obviously such a pattern was affected by price levels and piece rates.

16.   This derivation can be made more complex and realistic if the price level affects other variables.