The Supremacy Clause of the U

question 33

Multiple Choice

The supremacy clause of the U.S. Constitution states that

• A) the constitution of Texas is the supreme law in Texas.
• B) laws passed by the national government are supreme over all state laws.
• C) the president is the supreme government authority throughout the United States.
• D) all laws passed by the Texas legislature are supreme, even if they conflict with federal laws.
• E) state laws take precedence over national laws when they conflict.

---

Definitions:

Initial Endowment

Refers to the initial amount of money, assets, or resources that an individual, firm, or country possesses before entering into any trading or production activities.

Pareto Optimal

An arrangement of resource distribution that prevents the improvement of one individual's condition without adversely affecting another individual.

Utility Function

A utility function is an economic concept that models an individual's preference ordering over a set of goods or outcomes, representing satisfaction or happiness.

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources or outcomes in a two-person (or two-good) economy, illustrating potential areas of mutual benefit through trade.