Which of the Following Statements About the North American Industry

question 102

Multiple Choice

Which of the following statements about the North American Industry Classification System (NAICS) is most accurate?

• A)After being used for more than 50 years, NAICS was replaced by the Standard Industrial Classification (SIC system).
• B)NAICS permits comparability across countries but does not accurately measure new or emerging industries.
• C)One drawback to NAICS is that it is inconsistent with the International Standard Industrial Classification of All Economic Activities published by the United Nations (UN).
• D)NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies.
• E)NAICS is a five digit code that allows comparison of industries even when information is limited.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.