What Are Policy Impacts

question 11

Multiple Choice

What are policy impacts?

• A)issues that attract serious attention of public officials
• B)government institutions that are charged with taking action on political issues
• C)the effects that a policy has on people and on society's problems
• D)systems of selecting policymakers and of organizing government so that policy represents and responds to the public's preferences

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Definitions:

Planning Budget

A budget created for a specific level of activity; it helps managers plan the expected revenues, costs, and profits for different levels of operational activity.

Total Variable Cost

The cumulative cost that varies in direct proportion to changes in the level of output or activity, such as raw materials and direct labor.

Total Expenses

The aggregate amount of all costs incurred by a business during a specific period.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, providing a more useful tool for performance evaluation.