Question

Q. With reference to the ‘Atlas Conversion factor’ which of the following statements is/are incorrect?

Select the correct answer using the code given below:

• A.
  1 only
• B.
  2 only
• C.
  Both 1 and 2
• D.
  Neither 1 nor 2

Answer 1

The correct option is A

1 only
Explanation:

Statement 1 is correct: Atlas Conversion factor is the average of a country's exchange rate for that year and its exchange rates for the two preceding years, adjusted for the difference between the rate of inflation in the country and international inflation.

Statement 2 is incorrect: It is calculated by the World Bank.