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:

Whites

Refers to individuals of European descent.

Puerto Rico

An island territory of the United States located in the Caribbean Sea, with a rich blend of cultural influences and its own distinct identity.

Commonwealth

A political community founded for the common good, often used to describe self-governing territories associated with a larger nation.

United States

A country located in North America, consisting of 50 states, and known for its significant cultural and political influence globally.