What type of government agency has a single function and reports directly to the President?

The correct answer is an independent executive agency. These agencies are established by Congress and are tasked with specific functions that do not fit neatly into the categories of regulatory agencies, government corporations, or cabinet departments. They operate independently of the executive departments and report directly to the President, reflecting their focused and specialized nature.

Independent executive agencies are designed to handle particular administrative tasks that might require more flexibility than a typical government department would allow. This structure helps to enhance efficiency and streamline government operations. Examples of such agencies include the National Aeronautics and Space Administration (NASA) and the Environmental Protection Agency (EPA).

In contrast, regulatory agencies are responsible for creating and enforcing regulations within specific industries and report to Congress as well as the President. Government corporations operate like private businesses, providing services directly to the public, and are not solely focused on one function. Cabinet departments cover broad areas of government function and typically encompass multiple responsibilities. This helps highlight the unique role that independent executive agencies play in the federal government structure.