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To commit an intentional tort, a person must have an evil or harmful motive.
Export Subsidy
A government policy to encourage export of goods and services through direct payments, tax relief, or other financial incentives.
Net Welfare
The overall well-being of individuals or society, accounting for all benefits and costs, including those that are not traded in markets.
Economic Progress
The overall growth and improvement in an economy’s productivity, standards of living, and welfare over time.
Ad Valorem Tariffs
Tariffs based on a percentage of the value of the imported goods, used as a trade policy tool.
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Q71: An effective offer requires reasonably definite terms.