What is a low rated potentially higher paying bond called?

Junk bond is a high risk and high yielding security raised by a company in order to raise capital quickly to finance an undertaking.  

Junk bonds carry higher risk because the investors don’t know whether they will be repaid with the principal amount and earn regular interests.  Companies are ready to pay off the risk by high yield as they want to attract the investors to fund their operations.

When the financial jeopardy is overcome the investors are paid with a high yield in order to compensate the risk which they have faced and raised the capital.

when the united states took over

"choosing is refusing" means individuals face an opportunity cost with each decision they make. economists state that every decision involves trade-offs. opportunity cost is the least desirable alternative given up as a result of a decision.