1. According to Glaeser et al. (2005), what is the main reason why housing prices in Manhattan soared to such astronomical levels? a) Rising incomes of current and new residents b) Low interest rates...

1. According to Glaeser et al. (2005), what is the main reason why housing prices in Manhattan soared to such astronomical levels? a) Rising incomes of current and new residents b) Low interest rates c) Lack of supply due to land use restrictions d) New industries relocating to Manhattan

2. According to Glaeser et al. (2005), all were causes of New York’s high prices from supply constraint except: a) Relatively high P/CC ratio in office and other non-residential real estate compared to residential real estate b) Permitting and zoning restrictions c) Commercial real estate in Manhattan d) Community opposition, such as the Battle of Carnegie Hill e) All of the above were findings