7. Observing the annual ination rate in the U.S. on a monthly basis between January 1948 and April 2018, the highest rate in any single month was A. 7.94% in June 1967 B. 10.04% in January 1992 C. 14.76% in March 1980 D. 16.24% in February 2015 8. During the entire period from 1970 through 2016, the GDP of China while the GDP of Japan A. increased at an average annual rate of 5.34%; increased at an average annual rate of 6.17%. B. increased at an average annual rate of 9.19%; increased at an average annual rate of 2.48%. C. increased at an average annual rate of 11.56%; increased at an average annual rate of 1.95%. D. increased at an average annual rate of 12.43%; decreased at an average annual rate of 1.13%. For Questions 9 through H, consider a monopolist facing Demand andr with Marginal Costs of Production (MC) and Marginal Revenue (MR) as illustrated below. Marginal Social Costs (MS 0 are also illustrated. s MSC 29.05 MC Demand = MSB quantity 31,900 0 /' f ,\\ MR 8'85\" 13,150 10,275 9. It appears as if productioniconsumption of this good generates A. a positive externality but no negative externality. B. a negative externality but no positive externality. C. both a positive externality and a negative externality. D. neither a positive externality nor a negative externality. 10. To maximize prot, this monopolist would sell and charge a price of A. 8,850 units of output; $11.00 per unit. B. 8,850 units of output; $18.80 per unit. C. 10,275 units of output; $8.25 per unit. D. 10,275 units of output; $16.95 per unit. 11. When the monopolist chooses price and quantity to maximize prot, Deadweight Loss is equal to A 6i.______ _'l