Which of the Following Statements About the North American Industry

question 229

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, the NAICS was replaced by the Standard Industrial Classification (SIC) system.
• B) The NAICS permits comparability across countries but does not accurately measure new or emerging industries.
• C) One drawback to the NAICS is that its industry classifications are inconsistent with the International Standards Organization.
• D) The NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies.
• E) The NAICS is a five-digit code that allows comparison of industries even when information is limited.

---

Definitions:

Closure

The psychological term that describes an individual's desire or tendency to seek a sense of completeness or wholeness in perceiving or organizing information or experiences.

Continuation

The process of extending or carrying something on over a period of time.

Reversible Figures

Visual illusions or images that can be interpreted in two different ways, flipping back and forth between the two interpretations.

Figure-Ground Organization

Figure-Ground Organization is a type of perceptual grouping that involves distinguishing a figure from its background in visual processing.