After terrorists destroyed the World Trade Center and surrounding office buildings on September 11, 2001, some businesspeople
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After terrorists destroyed the World Trade Center and surrounding office buildings on September 11, 2001, some businesspeople worried about the risks of remaining in Manhattan. What effect would you expect their concern to have on the price of office space in Manhattan? Over time, those fears eased and the area around the World Trade Center site was made into a park, so the destroyed office buildings were never rebuilt. Who would be likely to gain economically from the creation of this park? Who would be likely to lose?
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The destruction of the World Trade Center caused a change in both the supply of and the demand for o...View the full answer
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