A Worker Who Loses a Job at a Petroleum Refinery

question 224

Multiple Choice

A worker who loses a job at a petroleum refinery because consumers and business firms switch from the use of oil to natural gas is an example of

• A)frictional unemployment.
• B)structural unemployment.
• C)cyclical unemployment.
• D)disguised unemployment.

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Definitions:

Stated Dollar Amount

A specified amount of money expressed in dollars, often referring to the face value of financial instruments or the nominal amount in transactions.

Credit Ratings

Assessments of the creditworthiness of borrowers, ranging from governments to private enterprises, indicating their ability to repay borrowed money.

Speculative

Involving financial transactions with a high risk of loss but also the potential for significant gains, often based on future expectations.

Coupon Interest Rate

The annual interest rate paid on a bond, expressed as a percentage of the face value.