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PHCY 722 - FINAL EXAM Questions with Correct Answers
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What are some factors that courts consider when reaching legal decisions? Correct Answer-Fundamental notions of fairness The custom or history involved The command of a political entity The best balance between conflicting societal interests The reason that the government has to step in...

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  • September 25, 2024
  • 118
  • 2024/2025
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PHCY 722 - FINAL EXAM Questions with Correct
Answers
What are some factors that courts consider when reaching legal
decisions? Correct Answer-Fundamental notions of fairness


The custom or history involved


The command of a political entity


The best balance between conflicting societal interests


The reason that the government has to step in sometimes (as opposed to
everyone just looking out for themselves) is to address ___________
______________ Correct Answer-Market failures


What four types of market failures are relevant to drug use? Correct
Answer-Public goods


Externalities


Natural monopolies


Information asymmetry

,What is a public good, and what is a pharmacy-related example of one?
Correct Answer-Definition: necessary and beneficial commodities that
private entities will not supply because there is no incentive for a private
entity to provide them


Example: orphan drugs and vaccines


What is an externality, and what is a pharmacy-related example of one?
Correct Answer-Definition: when the production or consumption of a
good affects someone who does not fully consent to the effect and when
the costs of a good are not fully incorporated into the consumer price


Example: prescription-only antibiotics (resistance)


What is a natural monopoly, and what is a pharmacy-related example of
one? Correct Answer-When are the fixed costs of creating a socially
desirable product or service so great that the product or service will
be provided by no one, or only a very few?
Example: costs of proving safety and efficacy of a prescription drug.


What are the 3 branches of government? Correct Answer-Judicial


Executive


Legislative

,What does the judicial branch of government do? Correct Answer-
Interprets laws and determines constitutionality of laws


What does the executive branch of government do? Correct Answer-
Enforcement of the law


Who is the head of the executive branch? Correct Answer-President
(federal)


Governor (state)


What does the legislative branch of government do? Correct Answer-
Creates the law


Where do administrative agencies come from? Correct Answer-Created
by Congress or state legislature, but housed in the executive branch


Why are administrative agencies necessary? Correct Answer-Most
legislators do not have the expertise necessary to regulate particular
fields


Administrative agencies are creatures of: Correct Answer-Statute

, What kinds of authorities do legislatures grant administrative agencies?
Correct Answer-Substantive and procedural


Administrative agencies are made up of members who are: Correct
Answer-Experts in their fields


Are members of administrative agencies experts in law? Correct
Answer-Not necessarily


What is a "creature of statute"? Correct Answer-Authority of an agency
is defined and limited by the legislature in the "enabling" statute


An agency must exercise its authority following the legislature's
procedures prescribed by the legislature


What is the point of a public member in an administrative agency?
Correct Answer-Brings perspective of general public


Keeps expert members focused on the bigger picture


What is the main responsibility of administrative agencies? Correct
Answer-Make rules to fill in gaps in a statute in order to make it
understandable/workable to those being regulated


(T/F) Rules made by administrative agencies have the force and effect of
law Correct Answer-True

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