Boris is currently developing a list of companies in which he would like to invest, along with their appropriate industry grouping. He would like to use this list to determine what effect changes in the economic cycle will have on each company. Which of the following statements about industry groupings is TRUE?a)Cyclical industries have a tendency to move in the opposite direction of economic cycles. b)Emerging industries are usually characterized by tremendous initial growth, but can be subject to the cyclical nature of the economy. c)Stricter environmental regulations have had only a negative impact on growth in the Canadian economy. d)Changing demographics and government regulations will have no impact on emerging industries, but will impact stable industries.