When an Administrative Agency Engages in Rulemaking, It Must First

question 288

Multiple Choice

When an administrative agency engages in rulemaking, it must first publish the proposed legislative rule, then it must:

• A) conduct a trial-like hearing
• B) examine witnesses from both sides of the issue
• C) have open oral testimony by all interested parties
• D) allow written commentaries by interested parties
• E) all of the other choices

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Definitions:

Utility Function

A mathematical expression that ranks preferences over a set of goods or outcomes, representing satisfaction or happiness derived from consumption.

Consumption

The act of using goods and services to satisfy needs and wants, which is a fundamental component of economics.

Income

The money received by an individual or business for services provided, products sold, or investments.

Interest Rate

The cost of borrowing money or the return on investment, expressed as a percentage of the principal, over a specific time period.