Final answer:
The emperor was the nominal ruler of the Holy Roman Empire, with the real power dispersed among various electors and principalities. The Golden Bull formalized the election of the emperor by seven prince-electors, highlighting the empire's decentralized power structure.
Step-by-step explanation:
The real ruler of the Holy Roman Empire was technically the emperor, but the power structures within the empire were complex and often decentralized. The emperor was chosen by select rulers within the empire known as electors. These electors were comprised of the secular rulers of the four principalities and the archbishops of three cities.
Despite being elected, the emperors' powers were often curbed due to their dependency on both the electors and their symbolic subordination to the pope, who confirmed their title. The Golden Bull, a document issued in 1356, clarified the electoral process by stipulating that seven prince-electors had the exclusive right to elect the emperor, solidifying the empire's electoral rather than hereditary system of imperial succession.
The political power within the Holy Roman Empire was in fact dispersed among its many principalities, each with its own degree of autonomy and power. Furthermore, the emperors held varying degrees of influence, oftentimes contending with the authority of the pope and the lack of centralized administrative structures.