Question

WHAT IS TIME REVERSAL TEST AND FACTOR REVERSAL TEST?????????

Answer 1

Answer:

- OECD Glossary of Statistical Terms OECD Glossary of Statistical Terms -

1. Time reversal test Definition. Definition:
2. A test that may be used under the axiomatic approach which requires that if the prices and quantities in the two periods being compared are interchanged the resulting price index is the reciprocal of the original price in

..........and ............

. - OECD Glossary of Statistical Terms Definition:

1. The factor reversal test requires that multiplying a price index and a volume index of the same type should be equal to the proportionate change in the current values (e.g. the “Fisher Ideal” price and volume indexes satisfy this test, unlike either the Paasche or Laspeyres indexes).

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