Which of the Following Descriptions of the Policy Process Is

question 10

Multiple Choice

Which of the following descriptions of the policy process is incorrect? (Chapter 5)

• A) Policy formulation and implementation are the phases of the policy process.
• B) Policy formulation includes agenda setting and development of legislation
• C) Policy implementation includes rulemaking and operations
• D) Policy modification includes a variety of feedback that sets the agenda for future policy development
• E) The policy process is dynamic as opposed to unidirectional and flat.

---

Definitions:

Foreign Currency

Currency used in a country other than the home country of the business entity, often involved in international transactions.

Foreign Exchange Gain

A profit resulting from changes in exchange rates when foreign currency holdings are valued at the current exchange rate.

Exchange Rates

The rate at which one currency can be exchanged for another, defining the relative value between two currencies.

Forward Rate

A term used in finance to describe the future exchange rate agreed upon in a forward contract, or the future interest rates as implied by the yield curve.