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If Employers Covered by the ________ Do Not Notify the Employees

question 73

Multiple Choice

If employers covered by the ________ do not notify the employees (and their union, if applicable) of layoffs, they may have to offer back pay and fringe benefits and pay penalties as well.


Definitions:

Prime Rate

The interest rate that commercial banks charge their most creditworthy customers, often used as a benchmark for other interest rates.

Effective Interest Rate

The real rate of interest earned or paid on a loan or investment, accounting for the effect of compounding over the period.

Compensating Balance

A minimum account balance that a borrower must maintain as a condition for borrowing from a lender or for obtaining favorable loan terms.

Stated Interest Rate

This refers to the nominal or advertised interest rate on a loan or financial product, not accounting for compounding or fees.

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