Which of the following refers to the Office of Management and Budget's review of regulations before they are enacted?

The correct answer is the term "regulatory review," which specifically refers to the process where the Office of Management and Budget (OMB) assesses and evaluates proposed regulations before they are officially implemented. This review process ensures that the regulations align with the President's priorities and that they are cost-effective and beneficial from an economic perspective. The OMB analyzes the regulatory impact and the benefits versus the costs, providing a level of oversight to maintain consistency with broader governmental objectives.

Understanding this process is vital as it highlights the checks and balances within the administrative framework when it comes to regulation issuance. The options such as "Policy Review," "Regulatory Oversight," and "Compliance Review," while they relate to aspects of government and regulation, do not specifically describe the OMB's focused role in the evaluation of regulations prior to their enactment.