Final answer:
The correct answer to the directive, rule, or regulation made by the President that has the effect of law is called an Executive order. These orders are based on the President's constitutional or statutory powers.
Step-by-step explanation:
The directive, rule, or regulation made by the President that has the effect of law is called a Executive order. An executive order is a directive issued to federal agencies, department heads, or other federal employees by the President of the United States under their statutory or constitutional powers. These orders have the full force of law when they take authority from a legislative power which grants its power directly to the Executive by the Constitution, or are made pursuant to Acts of Congress that explicitly delegate to the President some degree of discretionary power.
Historically, executive orders have led to significant actions such as Lincoln's Emancipation Proclamation and Truman's desegregation of the armed forces. While often used to enact significant policy changes or react to emergencies, most executive orders deal more generally with the organization and operation of the federal government and the management of its resources. The Constitution's phrase “he shall take Care that the Laws be faithfully executed" lays out this presidential duty, and through executive orders, presidents interpret and carry out legislation, often shaping and directing the execution of laws passed by Congress.