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Definition: Invariance to changes in the units of measurement...
Category: Consumer Price Index
A test under the axiomatic approach that requires that the price index does not change when the units of quantity to which the prices refer are changed: for example, when the price of some drink is quoted per litre rather than per pint. This test is also described as the commensurability test. http://www.ilo.org/public/english/bureau/stat/guides/cpi/index.htm
Source:
International Labour Organization (ILO), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), Statistical Office of the European Communities (Eurostat), United Nations (UNECE), The World Bank, Consumer Price Index Manual: Theory and Practice, Geneva, August 2004
International Labour Organization (ILO), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), Statistical Office of the European Communities (Eurostat), United Nations (UNECE), The World Bank, Consumer Price Index Manual: Theory and Practice, Geneva, August 2004
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