In the Final Step of the Policymaking Process, the Policy

question 56

Multiple Choice

In the final step of the policymaking process, the policy is reviewed for its effectiveness and efficiency; if changes are needed, the issue is placed back on the policy agenda, and the cycle starts again. What is this step called?

• A) Policy enactment
• B) Policy formulation
• C) Policy evaluation
• D) Problem identification
• E) Policy implementation

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Definitions:

Intersection

The point or area where two or more lines or paths cross or meet.

Long-Run Equilibrium

A state in which all adjustments to any economic changes have been made, allowing for full resource flexibility and market adjustments.

Profit-Maximizing Price

The price level at which a firm maximizes its profits, typically found where marginal cost equals marginal revenue.

Panel

A group of people gathered to discuss, analyze, or judge a particular topic or issue, often in the context of a conference or public debate.