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Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.

This week in business and investing: Shopify, Starbucks, Netflix and more are in their earnings era. The e-commerce, coffee and streaming giants all reported their third-quarter figures this week, with largely good news.

Meanwhile, Canada Revenue Agency announced a last-minute extension to a filing deadline; a province mandated pay transparency for all job postings, and a philanthropist gave $100-million to his alma mater’s engineering school. Canada also flirted with a technical recession. (What does that even mean?)

Do you remember these stories? Take our quiz below to test your recall for the week ending Nov 3. The Globe’s real estate reporter, Rachelle Younglai, took this quiz and scored 8 out of 11. Can you beat her score?

1Shopify posted a profit in its third quarter. The company cited megastars Taylor Swift and Drake as revenue drivers. Why?
a. Taylor Swift’s Eras Tour merch was sold on Shopify, and Drake’s new store, Drake Related, launched on the ecommerce platform.
b. Drake starred in a TV spot for the Canadian company, while 1989 (Taylor’s Version) was sold exclusively via a Shopify store.
c. Drake and Taylor Swift performed at Shopify’s annual company retreat, a huge boost to workers’ morale.
d. Nothing. The quiz writer confused Shopify (ecommerce) and Spotify (music streaming).

a. Taylor Swift and Drake launched stores on Shopify. The company exceeded revenue expectations and returned to profitability in its third quarter. In addition to running stores for A-list pop stars, the company also launched a suite of artificial intelligence tools, finalized the sale of its fulfillment network, and benefited from a 20 per cent cut to its staff.

2“We don’t need to wait until it’s back to 2 per cent. But we need to wait until we’re clearly on a path to 2 per cent.” Who said this, about what?
a. Justin Trudeau, about government spending increases.
b. Pierre Poilievre, about advocating carbon rebates.
c. Tiff Macklem, about interest rates and inflation.
d. Dairy Farmers of Canada, about new milkfat regulations.

c. Tiff Macklem, about interest rates and inflation. The Bank of Canada Governor said the central bank could begin slashing interest rates before the country returns to the much-anticipated 2 per cent target for annual inflation.

3Coming soon to a job posting (maybe) near you: Salary transparency. In which province will the newly-passed Pay Transparency Act require all listings to include a pay range?
a. Quebec.
b. Quebec (but only for French-language listings).
c. Ontario.
d. British Columbia.

d. British Columbia. Starting Nov. 1, all employers in British Columbia are required to include salary or wage information in public job postings. It’s intended to ensure “people are being offered the same pay for the same work,” the government said in a release.

4This week, the CRA announced a last-minute extension for the deadline of which program?
a. Underused Housing Tax.
b. Personal income tax filing.
c. Canada child benefit.
d. Old age security.

a. Underused Housing Tax. The Canada Revenue Agency extended the deadlines for compliance with a new federal tax on underused housing. The new deadline is April 30.

5The early return of the _____ helped drive up sales at Starbucks, according to the company.
a. Snow Cone Latte (in store in July).
b. Pumpkin Spice Latte (premiered in August).
c. Red holiday cups (arrived Nov. 1).
d. Taylor Swift CD sales in store (on Sept. 27).

b. Pumpkin Spice Latte. The fall-favourite PSL returned to Starbucks menus in (still a summer month!) August. That – plus new drinks like the Iced Pumpkin Cream Chai Tea Latte – helped drive U.S. same-store sales up 8 per cent in the quarter.

6Still on the Seattle-based coffee chain, Analysts also credit this trend with boosting the company’s bottom line:
a. Trading down: Consumers choosing Starbucks, a mass-market brand, over small independents.
b. Return to office: Newly office-bound workers buy their lattes out, instead of making them at home.
c. Affordable luxuries: Financially-crunched consumers seeking out cheaper indulgences (like a latte).
d. Oat milk: The widespread embrace of non-dairy milks helped lower overall costs.

c. Affordable luxuries. “The consumer is stressed, but they’re going to go to ... those affordable luxuries,” Stephens analyst Joshua Long said. “Starbucks does a great job with that,” he added.

7Billionaire Stephen Smith announced he would give $100-million to this university to improve its engineering program.
a. Queen's University.
b. Simon Fraser University.
c. University of Waterloo.
d. University of Guelph.

a. Queen's University. “My goal is to help Queen’s build the country’s top engineering school – one that’s recognized as among the best in the world,” said Mr. Smith, who earned an electrical engineering degree from the school in 1972.

8A technical recession is defined as what?
a. When the leader of the Opposition declares a recession.
b. Two quarters of decline GDP in a two-year period.
c. When the employment rate and the GDP fall at the same time.
d. Two consecutive quarters with a drop in real GDP.

d. Two consecutive quarters with a drop in real GDP. Two consecutive quarters of declining GDP is what some economists refer to as a “technical recession.”

9True or false: Canada’s economy has entered a “technical recession.”
a. True.
b. False.

a. True The Canadian economy has stalled in recent months. Following a contraction in the second quarter, Tuesday’s monthly report from Statistics Canada suggested that Canada’s GDP was ever-so-slightly lower in the third quarter, too. However, as David Parkinson writes, this is "no one's serious definition of a recession."

10“People’s willingness to be contacted has changed over the pandemic,” Vincent Dale said, referring to which problem?
a. Data showing consumers are increasingly rude in stores.
b. The declining response rate to StatsCan surveys.
c. The rise of Canadians refusing to pick up telemarketing calls.
d. Gen Z’s outright refusal to speak to people on the phone.

b. The declining response rate to StatsCan surveys. Canadian households and businesses are increasingly ignoring surveys that Statistics Canada uses to produce key economic figures, including labour market data. As Matt Lundy explains, not getting good data is a problem.

11Netflix says it added 15 million global users thanks to this recent addition to the streaming service:
a. A cheaper, ad-supported plan.
b. AI-generated reality TV shows.
c. A podcast-only plan.
d. The Golden Bachelor: Canada.

a. A cheaper, ad-supported plan . While the streaming giant has not (yet!) introduced a dating contest for Canada’s boomers, the new subscription option has spurred growth for the once-stagnant company.

How well did you do?

Answer all of the questions to see your result
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