CFAI reading 31 return concepts question

In the probem set 7-12 I got the opposite answer on problems 7,8,9

it appears I understand what the different effects described would do to the equity risk premium, but cant seem to properly apply it to whether this would bias the premium upwards or downwards. The answer explanations do not provide a good way for me to understand the concept that I seem to not be grasping.

Can anyone help explain this please?