The Weekly Business and Investing Quiz: Testing Your Knowledge

Welcome to The Globe and Mail’s weekly business and investing news quiz! Each week, we gather intriguing stories and create questions to test your understanding of the ever-evolving landscape of business news. In this engaging format, our aim is to not just inform, but also entertain you as you reflect on notable events and trends in the world of finance.

Recent Headlines: Tariffs and Their Impact

This week, the spotlight was on international trade dynamics, especially with U.S. President Donald Trump’s recent decision to double tariffs on steel and aluminum imports. This move has led to a significant impact on the tourism patterns from Canada to the United States. Unsurprisingly, many Canadians are opting to avoid trips south of the border. Interestingly, this shift has seen a spike in travel to other international destinations, raising questions about the changing preferences of Canadian tourists.

Question 1: The Federal Public Service

After a decade of expansion, Prime Minister Mark Carney is on a mission to enhance efficiency in the federal public service. A critical question arises: what was the net change in federal civil service jobs over the past year?

• Answer Options:
  • a. The government added 5,000 jobs
  • b. The government shed 5,000 jobs
  • c. The government added 10,000 new jobs
  • d. The government shed 10,000 jobs

Correct Answer: d. The government shed 10,000 jobs. The reduction marks the first decline since 2015, emphasizing a significant shift in government strategy.

Question 2: Canadian Travel Trends

As Canadian citizens consciously avoid traveling to the United States, one country has benefited significantly from this trend. Can you guess which destination saw a nearly 30% increase in Canadian visitors this year?

• Answer Options:
  • a. Mexico
  • b. Japan
  • c. Portugal
  • d. Australia

Correct Answer: b. Japan. The strong Canadian dollar against the yen has made Japan a more appealing destination, showcasing how economic factors influence travel behavior.

Question 3: Tariff Wars Resurge

Despite previous signs of decreasing tensions, tariff discussions are once again making headlines. What portion of U.S. aluminum imports is sourced from Canada?

• Answer Options:
  • a. 10 percent
  • b. About a quarter
  • c. About half
  • d. Nearly all of them

Correct Answer: c. About half. Canada is a major supplier of aluminum to the U.S., contributing to the economic ramifications of Trump’s tariffs.

Question 4: The Meaning Behind TACO

In the realm of business jargon, a new acronym has emerged: TACO. What does it stand for?

• Answer Options:
  • a. Trump Always Chickens Out
  • b. Trade Always Causes Outsourcing
  • c. Trump Always Causes Outrage
  • d. Tariffs Always Create Opportunities

Correct Answer: a. Trump Always Chickens Out. This humorous take encapsulates the unpredictable nature of Trump’s tariff policies as observed by journalists.

Question 5: Elon Musk’s Critique

Elon Musk took aim at significant government action this week, labeling something a “disgusting abomination.” What was he referring to?

• Answer Options:
  • a. South Africa’s government
  • b. Restrictions on executive pay
  • c. The budget bill going through Congress
  • d. The New York Times

Correct Answer: c. The budget bill going through Congress. Musk’s vocal opposition signals his discomfort with fiscal policies that could impact his interests.

Question 6: Nuclear Power Investments

In an interesting move, which major tech company recently signed a 20-year deal to purchase nuclear power?

• Answer Options:
  • a. Meta Platforms
  • b. Microsoft
  • c. Shopify
  • d. OpenAI

Correct Answer: a. Meta. This agreement illustrates the growing acceptance of nuclear energy among tech firms seeking sustainable power sources.

Question 7: AI Data Center Development

Toronto-based Brookfield Asset Management is investing significantly in technology by planning a data center for artificial intelligence. Where will this center be based?

• Answer Options:
  • a. Nova Scotia
  • b. New Mexico
  • c. Singapore
  • d. Sweden

Correct Answer: d. Sweden. The choice of Sweden underscores its appealing conditions for data center operations amid increasing AI demand.

Question 8: The Cost of Raising a Child in Canada

Families across Canada often ponder the financial implications of raising children. How much does it cost to raise a child in Canada, from birth to age 18?

• Answer Options:
  • a. About $100,000
  • b. About $200,000
  • c. About $300,000
  • d. More than $350,000

Correct Answer: d. More than $350,000. This staggering figure increases awareness of the financial responsibilities faced by parents.

Question 9: OECD Economic Outlook

The Organisation for Economic Co-operation and Development recently revised its outlook for the global economy. What’s the main takeaway from their report?

• Answer Options:
  • a. Economic growth is holding up better than expected
  • b. Economic growth is slowing
  • c. U.S. growth is accelerating
  • d. The U.S. budget deficit is starting to shrink

Correct Answer: b. Economic growth is slowing. This warning signals the potential adverse effects of ongoing trade tensions.

Question 10: A Record High in Canada

Which key economic figure recently hit a record high in Canada?

• Answer Options:
  • a. The trade deficit
  • b. Unemployment
  • c. Loan defaults
  • d. Housing starts

Correct Answer: a. The trade deficit. This new record is a direct consequence of changing tariff policies.

Question 11: Jamie Dimon’s Forecast

JPMorgan Chase’s CEO Jamie Dimon made waves with his prediction regarding instability in which market?

• Answer Options:
  • a. The Chinese communist party
  • b. The stock market
  • c. The bond market
  • d. The European Union

Question 12: A Historic Tenure Revocation at Harvard

Harvard University has taken an unprecedented step by revoking a professor’s tenure for the first time in roughly 80 years. What was Francesca Gino’s area of research?

• Answer Options:
  • a. Donald Trump’s business career
  • b. Honesty
  • c. People’s faith in institutions
  • d. Detecting lies in financial statements

With these engaging questions and their insightful answers, we invite you to measure your business acumen and stay informed. Join us next week for another round of thought-provoking queries that challenge you to stay on top of the business world!