During the economic downturn of 2008-2009, the unemployment rate increased to nearly 10%. At the same time, the price of college tuition and the number of college enrollees increased.

a. Which statement best explains why more people enrolled in college during this time period even as the price of tuition increased?

More people enrolled because

1) if the next best option was unemployment, many individuals may have preferred to enroll in college and live off of student loans while waiting for the job market to improve.

2) of the bandwagon effect. When something becomes popular or trendy, ever more people are willing to pay high prices for it.

3) if the next best option was unemployment, many individuals may have preferred to enroll in college and gain new skills in hopes of increasing their future employment prospects.

4) of the social pressure people feel to go to college. Universities exploited this and increased the price of tuition without losing many students.

b. What is the core principle that best explains this?