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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
Nidhi taparia Best Answer
The correct answer is (1) Time reversal test. Here we are testing whether the price index becomes inverse of itself when current period (denoted by 1) is changed to base period (denoted by 0) and vice versa. Hence P01 denotes change in price level in current period with respect to base period, and P10 denotes change in price level in base period with respect to current period.