The number of U.S. households with access to the Internet is growing rapidly. Compared to 50 years ago, one would predict that when considering a major purchase, people today will gather（）
A. more information because the Internet has increased the cost of gathering information
B. less information because the Internet has increased the benefit of gathering information
C. more information because the Internet has lowered the cost of gathering information
D. less information because the Internet has lowered the cost of gathering information
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Which of the following would not be studied in macroeconomics（）
A. The growth rate of the U.S. economy
B. How a sharp increase in gasoline prices is likely to affect SUV sales
C. The impact of government spending on the economy
D. The causes of the Great Depression
The Cost-Benefit Principle indicates that an action should be taken if（）
A. its average benefits exceed its average costs
B. its extra benefit is greater than or equal to its extra cost
C. its total benefits exceed its total costs
D. its net benefit （benefit minus cost） is zero
Which of the following would not be studied in microeconomics（）
A. Whether to study or watch TV tonight
B. How individual firms decide how much to produce
C. How an early freeze in California will affect the price of fruit
D. Whether the federal budget should be balanced
If a person takes an action if, and only if, the extra benefits from taking that action exceed the extra costs, then that person is（）
A. not rational
B. following the Cost-Benefit Principle
C. following the Scarcity Principle
D. not following the Cost-Benefit Principle
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