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Mckendree University Bb Take Test: Final exam - Part... x QUESTION 9 When a tax is imposed, the surplus that is lost to buyers and sellers but converted into tax revenues is: O A lost and considered a cost of taxation. O B- transferred to others through public programs. O " part of deadweight loss. O D. All of these statements are true. QUESTION 10 During a time of an economic downturn, it is likely that projected tax revenues will be than anticipated, and expenditures will be than anticipated. O A higher, higher O B. lower, lower O C. higher, lower O D. lower, higher QUESTION 11 Economic growth can: O A create jobs. O B. reduce poverty. O C. improve standards of living O D. All of these statements are true. QUESTION 12 An example of a final good in calculating GDP is: A flour purchased by Nabisco to make Keebler chocholate chip cookies. B. flour purchased by you to make chocolate chip cookies at home. O C. flour purchased by a donut shop to make a chocolate chip donut to sell. O D. All of these are final goods