Kris wants to purchase a house. She buys newspapers to read the classified advertisements and spends her evenings with realtors looking at houses. Kris has incurred the ________ costs of making a purchase

The situation in which a person places greater value on a good as fewer and fewer people possess it is called

A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.

If the price of inputs rises and foreign income rises:

a. Price index falls, and real GDP falls. b. Price index falls, and the change in real GDP is uncertain. c. The change in price index is uncertain, and real GDP rises. d. Neither the price index nor real GDP changes. e. Price index rises, and the change in real GDP is uncertain.