The OMB provides major oversight capabilities to the president.  Starting originally with Executive Order 12291 under President Reagan and continuing with E.O. 12886 under President Clinton, OMB can review regulations under development by the executive branch.

(B) General Accounting Office is incorrect.  The GAO is a congressional office that can conduct evaluations for Congress.
 

Remember that IRCs are multi-headed agencies that have a number of appointed commissioners that serve fixed terms.  This means that they can NOT be removed unless they do something illegal.  They can't be removed because of disagreements with the president or Congress.  Most IRCs do deal with a specific aspect of the economy.

This is the process in which agencies used to implement statutory law.  A regulation has the full force and effect of a law.
 

As we discussed in class, there are certain situations where the industry may want to be regulated.  The most common is in order to protect their profits.  If government requires some form of testing (for example) to enter the market, then that will protect those businesses already in the industry.
 

Also called delegation of authority...This is when Congress gives the power to agencies to make laws/policies, which is what is going on here.

(A) congressional oversight is incorrect.  Oversight is what Congress does to partially control the delegation of power.

This provides minimum standards that all agencies developing regulations must follow.  The three steps are 1) provide notice about the potential policy; 2) allow comments to be provided on the proposed rule; 3) consider the comments and publish the final rule.
 

The case involved a one-house veto of the INS decision. The Supreme Court ruled it unconstitutional because it failed the bicameral test and also the test of "presentment" (including the president in lawmaking procedures).