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Test your knowledge of the stories making the headlines with The Globe's weekly business and investing news quizDavid Zalubowski/The Associated Press

Welcome to The Globe and Mail’s business and investing news quiz. Each week, join us 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: Interest rates were in the news again, with the U.S. Federal Reserve raising its key rate by a quarter point Wednesday. The decision moved the federal fund’s rate to a range of 5.25 per cent to 5.5 per cent – a 22-year high. The Fed’s chair, Jerome Powell, indicated future hikes were still on the table. North of the border, Canada’s central bankers, also confronting persistent inflation and an economy that remained more resilient than expected, debated whether to hike rates in July, a summary of the discussions showed.

Elsewhere, Elon Musk rebranded Twitter, a handful of automakers said they’re working together on a new multibillion-dollar project, unsold electric vehicles are piling up, and McDonald’s saw a boost in their quarterly results thanks to some limited-edition offerings.

Do you remember these stories? Take our quiz below to test your recall for the week ending July 28.

1 At a press conference this week, U.S. Federal Reserve chairman Jerome Powell said decisions on future interest rate hikes will come down to balancing two risks. What did he say those risks were?
a. “The risk of acting too soon and the risk of acting too late”
b. “The risk of job losses and the risk of inflation”
c. “The risk of doing too much or doing too little”
d. “The risk of angering economists or the risk of angering politicians”

c. “The risk of doing too much or doing too little” Mr. Powell indicated that future decisions about rate hikes would come down to new data and an assessment of risks. “We’re coming to a place where there really are risks on both sides. It’s hard to say exactly whether they’re in balance or not,” Mr. Powell said.

2 Meanwhile, according to a summary of discussions, the Bank of Canada debated whether to raise interest rates in July as part of efforts to bring down inflation. Ultimately, the BoC did hike rates. What was the consensus they reached?
a. “The cost of delaying action was larger than the benefit of waiting”
b. “The cost of inaction is lower inflation"
c. “The benefits of waiting outweigh the risk of persistent inflation”
d. “The cost of inaction was lower interest rates”

a. “The discussion turned to whether it was appropriate to raise the rate in July or wait for more evidence to solidify the case for further tightening,” the summary says. “The consensus among members was that the cost of delaying action was larger than the benefit of waiting,”the summary of deliberations says.

3 After a high-profile corporate rebrand, how did Elon Musk say users should refer to messages on his social media platform?
a. As Posts
b. As Xs
c. As Kabooms
d. As Elons

b. As Xs Mr. Musk renamed Twitter as X this week and replaced its familiar bird logo with the letter. In a message posted on the site, he told users that tweets will be known as “x’s.”

4 McDonald’s saw its comparable sales grow by 10.3 per cent in its most recent quarter, according to results announced this week. What limited-edition menu item helped boost the fast-food chain’s results?
a. Purple milkshakes
b. Purple hamburger buns
c. Purple sundaes
d. An all-purple Happy Meal

a. Purple milkshakes The Grimace Birthday Meal featured purple milkshakes in honour of the aubergine character.

5 Seven major automakers announced plans this week to work together on a new initiative for North America. What are the companies co-operating on?
a. A battery factory
b. New fuel-efficiency standards
c. An electric-vehicle charging network
d. Guidelines for flying cars

c. An electric-vehicle charging network General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis said that they will share in a multibillion-dollar investment to build “high power” charging stations with 30,000 plugs in urban areas and along travel corridors.

6 A fast-growing Canadian technology company announced a new deal with a Brazilian bank this week. What is the company’s name?
a. Hopper
b. Bopper
c. Copper
d. Jawdropper

a. Hopper The travel tech company’s president told The Globe that Hopper is set to announce “about a dozen other partnerships” in the next few months, including one in Canada and others in Europe, Asia and Australia.

7 Canadian regulators this week ruled in favour of Quebecor in its dispute with what fellow Canadian telecom company?
a. Telus
b. Rogers
c. Bell
d. Fido

b. Rogers The Canadian Radio-television and Telecommunications Commission sided with Quebecor in a rate-setting decision over the prices it will pay to access the Rogers network, determining that the regional telecom’s offer will foster affordability and lower prices for retail mobile wireless services.

8 What is the lowest available insured variable mortgage rate this week?
a. 4.79
b. 5.19
c. 5.95
d. 6.10

c. 5.95 The lowest nationally available insured variable-rate mortgage is 5.95, according to columnist Robert McLister. Meanwhile, HSBC offered 6.40 rate for uninsured variable-rate mortgages.

9 Wondering the odds you’ll die alone? What percentage of women who live until age 90 are survived by a spouse?
a. 11 per cent
b. 63 per cent
c. 20 per cent
d. 22 per cent

a. 11 per cent Based on CPP data from 2009 to 2021, only 11 per cent of women who live until age 90 are survived by a spouse.

10 Electric vehicles are appealing. But to the dismay of manufacturers, they’re not buying. How many unsold EVs are piling up in U.S. dealer lots this year?
a. 20,000 units
b. 35,000 units
c. 50,000 units
d. 92,000 units

d. 92,000 The supply of unsold EVs on U.S. dealer lots has swelled 350 per cent so far this year, to more than 92,000 units in June

11 What is the asking price for this house? This light-filled new build in northwest Toronto offers 6,000 square feet of living space. The home’s balance of textures, natural stone, wood and glass gives it a warmer feel.
a. $695,000
b. $2,695,000
c. $12,695,000
d. $3,695,000

b. $2,695,000 The infill home is on the market for $2,695,000.

How well did you do?

Answer all of the questions to see your result
Congratulations, you’re an ace. You could be a Globe editor. Subscribe to our Top Business Headlines newsletter to stay on top of your game.
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This wasn’t your week, but that’s okay! We’ll be back next Friday with another business and investing quiz, subscribe to our Top Business Headlines newsletter to prepare.

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