Q1. What are the highest and lowest payments from the writer that the bookkeeper farmer team will accept for the 6th day? Assume that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper admit? Considering that the beekeeper gets that amount, what range of payments will the farmer admit?
Q2. Okun's law relation is represented as: ut - ut-1 = -β(gyt - y). Which of the following would likely cause an increase in Okun's coefficient (i.e., an increase in β)?