In a state of commerce in which much credit is habitually given, general pricesat any moment depend much more upon the state of credit than upon the quantity of money.
The value of money is inversely as general prices; falling as they rise, and rising as they fall.
These troubles resulted in a great diminution in the production of the precious metals, which was quickly indicated by a fall in general prices.
I shall maintain the contrary, holding that while these doctrines are inapplicable to the problem of the value of money, they are applicable to the problem of general prices, on the assumption of a fixed value of money.
Professor Fisher, as just shown, very carefully excludes this and all other psychological approaches to his problem of general prices, and has no place in his system for an absolute value.
A change in general prices may be caused by a change in the value of money, and may be caused by a change in the values of goods (II, p.
Therefore, the rate of interest this year in long-time loans would be just that resulting in the expectation, on all hands, of a stationary level of general prices.
And yet the study of general prices as shown by any broadly selected list reveals changes which in some measure affect the interests of every member of the community.
When gold is the standard unit, its value is the converse of general prices; as prices go up the value of gold goes down, and gold is said to depreciate.
Such an average is called a general price and, when comparing it with the general price of another time, we speak of changes up or down in general prices, or in the general scale of prices, or in the price level.
For some time those who opposed it took the ground that the alleged evils did not exist--that in fact there had been no permanent fall in general prices.
General prices "are but a combination, or composite photograph, as it were, of individual prices.
It is difficult to see why the latter result is preferable to the former; if what is required is an index of the change in general prices, not specially referred to any particular purpose, such as of securing a constant benefit to a legatee.
Before proceeding with the main line of this argument, we will digress to notice some of the arguments put forth in support of the stability of the value of gold by those who cannot but recognize the great fall in general prices.
The value of money is inversely as general prices: falling as they rise and rising as they fall.
The above list will hopefully provide you with a few useful examples demonstrating the appropriate usage of "general prices" in a variety of sentences. We hope that you will now be able to make sentences using this group of words.
