The Governor of Texas Has

question 8

Multiple Choice

The governor of Texas has

• A) strong formal powers granted by the Texas constitution.
• B) few formal powers, so the office is one of the weakest chief executives in the United States.
• C) the power to appoint all of the other officials in the executive branch.
• D) the power to appoint all state judges.
• E) an average amount of power compared to governors of other states.

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Definitions:

Marginal Utility

The additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a good or service.

Risk Averse

A characteristic of individuals who prefer to avoid risk, choosing certainty over uncertainty even if it results in a potentially lower return.

Marginal Utility Function

A mathematical representation that describes how the utility or satisfaction derived from consuming an additional unit of a good changes as more of the good is consumed.

Utility Function

A utility function is a mathematical representation of a consumer's preference ranking for different bundles of goods, showing the level of satisfaction for each.