Spooky Trade Restrictions
A tax imposed on foreign goods, such as blood soda or foreign flying broomsticks, to protect domestic producers and generate government revenue
tariff
Skeletoneria places high tariffs on foreign spellbooks because its domestic spellbook industry was started last month and needs time to grow and achieve efficiencies
infant industry protection
Ghostico and Skeletoneria sign a special treaty to lower tariffs only on pumpkin cider traded between their two borders
Preferential trade agreement
In Ghostico, trick-or-treaters demand $1,000$ bags of foreign candy corn at the tariff price, but domestic goblin bakers can only produce $400$ bags. Using the import calculation formula, how many bags must Ghostico import?
600 bags
In Mary Shelley’s original 1818 novel, what is the monster's actual name?
he doesn't have one
A legal physical limit placed on the quantity of foreign cauldrons or pumpkins that can be imported into a nation over a specific time period
What is an Import Quota
Vampire Lanka refuses to import foreign wooden stakes or silver bullets, arguing it must produce 100% of its defense supplies at home in case of war
national security argument
Vampire Lanka, Zombie Land, and Werewolf Realm drop all tariffs between themselves and agree to charge a matching 15% tariff on all human imports
customs union
The High Council of Vampire Lanka raises the price of imported blood soda from the world price of $10 up to $14 by applying a tariff. If vampires import $500 bottles at this new price, calculate the total government tariff revenue collected.
2,000
What iconic, controversial Halloween candy was originally invented in the 1880s under the product name "Chicken Feed"?
Candy corn
Financial payments granted by the government to domestic potion manufacturers to lower their production costs and help them compete against cheap imports
What is a Production Subsidy
When Ghostico slaps a tariff on foreign pumpkin cider, these two domestic groups celebrate while thirsty trick-or-treaters pay higher prices
Domestic Producers and Domestic Workers/Employees
In the Transylvanian Trading Bloc, zombie workers, witch capital, and ghost entrepreneurs can move across borders to work without any passports or restrictions
What is a Common Market
The Goblin King grants domestic potion brewers a production subsidy of $\$3$ per bottle. If domestic brewers produce and sell $800$ bottles after the subsidy, calculate the total government expenditure from the royal treasury
2,400
Long before pumpkins were introduced to Europe from the Americas, what root vegetable did people in Ireland and Scotland carve to ward off evil spirits? (starts with a T)
turnip
Unlike a tariff, this trade restriction does not generate tax revenue for the government, but creates extra revenue ("quota rents") for foreign producers who hold licenses
import quota
An underdeveloped zombie nation relies entirely on exporting raw spider webs. To avoid this danger, it uses tariffs to build industries making potion bottles, trick bags, and broomsticks
economic diversification
To join the Council of Spooky Nations, Werewolf Realm had to surrender its independent authority to set its own trade tariffs, resulting in this major disadvantage
loss of sovereignty
In Skeletoneria, the world price of flying broomsticks is $50$, but a $10$ tariff brings the price to $60. At $60, skeletal witches demand $300 broomsticks. Calculate the total domestic consumer expenditure on broomsticks after the tariff.
18,000
What is consistently ranked as the single best-selling chocolate candy brand in the United States during the Halloween season?
Reeses
Excessive customs checks, safety inspections, and health checks used at border controls to intentionally slow down foreign imports
What are Administrative Barriers
The Witch Kingdom put tariffs on foreign broomsticks; human nations retaliated with 100% tariffs on magic potions, triggering this mutually destructive trade battle
What is a Trade War
The ultimate global organization that monster nations can join to promote trade liberalization across the entire human and supernatural world
What is the World Trade Organization (WTO)
When graphing the effects of a production or export subsidy on zombie spellbooks, this exact geometric measurement on the trade diagram represents the subsidy per unit granted by the government.
vertical distance between the two supply curves
Out of over 6,000 mammal species on Earth, bats are famous Halloween icons because they hold what unique title in the animal kingdom?
only mammal capable of true flight