In the context of naming binary molecular compounds, what is the correct name for $N{O}_2$?

Use prefixes to indicate the number of atoms of each element: 'mono-' for one, 'di-' for two, etc. Since there is one nitrogen atom and two oxygen atoms, the prefixes would be 'mono-' for nitrogen (often omitted for the first element) and 'di-' for oxygen.

Combine the element names with the appropriate prefixes: 'nitrogen' for N and 'oxide' for O, applying the prefix 'di-' to oxygen to indicate two atoms, resulting in 'nitrogen dioxide'.