A market where a few firms produce most of the output is called a(n)

What is an effective counter against the argument that international trade should be restricted to protect domestic jobs?

A) A more effective policy would be to support the industry with subsidies. B) The more diversified the economy, the more stable it is. C) Free trade increases the number of jobs in which workers earn higher incomes. D) Rent seeking behavior should be encouraged. E) Free trade in "green" goods will increase jobs.

The argument that developing countries should nurture their domestic industries by protecting them from foreign competition is known as

A) preservation of the home market. B) the escape clause hypothesis. C) the earth destruction hypothesis. D) institutional fair trade policy.