How many employees did the federal government hire since 2015? Take our business quiz for the week of April 19


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: Finance Minister Chrystia Freeland unveiled the federal budget this week, including $53-billion in new spending over five years. Of that new spending, $19-billion was allocated to new housing and affordability measures, $10.7-billion was for defence and $9.1-billion was targeted to Indigenous communities and businesses. The budget also revealed that former Bank of Canada governor Stephen Poloz would lead a new federal working group to look at ways of encouraging Canadian pension funds to invest more in the country. And it tapped the Financial Consumer Agency of Canada to administer and enforce open banking legislation.

Also: Gold surged, Tesla’s workforce shrunk and WestJet issued a curious message to its customers.


1This week’s federal budget raised taxes on:

a. Dividends

b. Inheritances

c. Income

d. Capital gains

d. Capital gains. Ottawa is changing the rules on capital gains for the first time in 25 years by raising the inclusion rate – the portion of capital gains on which tax must be paid. The inclusion rate will rise from half to two-thirds on capital gains realized by companies. The increased inclusion rate will also apply to individual taxpayers but only on capital gains above $250,000.

2Higher taxes are required, in part, to finance a larger public service. How many employees has the federal government added since 2015?

a. 10,000

b. 50,000

c. 100,000

d. 250,000

3Which of these countries now has the most government workers as a share of total employment?

a. Canada

b. France

c. Germany

d. United Kingdom

b. France is still ahead of Canada in terms of government workers as a share of total employment, but Canada is closing the gap quickly. Both countries have considerably larger shares of government workers than other developed countries.

4The International Monetary Fund warned this week that four countries had a critical need “to address fundamental imbalances between [government] spending and revenues.” These four countries are:

a. Canada, China, France and Italy

b. Brazil, China, France and the United States

c. China, Italy, the United Kingdom and the United States

d. Canada, Greece, Italy and the United Kingdom

c. China, Italy, the United Kingdom and the United States. The IMF said big deficits in the United States, China, the United Kingdom and Italy require urgent attention. The huge U.S. deficit, in particular, poses “significant risks” for the global economy. There is some good news, though: Canada’s projected fiscal deficit for 2025 is one of the smallest among developed countries, according to IMF projections.

5Gold is surging. In a note to clients this week, Citigroup analysts turned to Rihanna’s musical catalogue to describe what they see ahead for the precious metal after its recent run up in price. They said bullion will:

a. “Shine bright like a diamond”

b. “Run this town”

c. “Take a bow” and level out

d. Turn into “disturbia,” “a disease of the mind”

a. “Shine bright like a diamond.” The Citigroup analysts announced a massive revision to their 2025 gold-price target, boosting it by 40 per cent to US$2,875 an ounce. They said bullion, now trading around US$2,380 an ounce, could hit US$3,000 once the Federal Reserve starts cutting interest rates.

6Ouch! Electric-vehicle maker Tesla announced this week it was laying off more than 10 per cent of its global workforce. How has the company’s stock performed so far this year?

a. It has gained 10 per cent

b. It has held steady

c. It has slid 20 per cent

d. It has plunged roughly 40 per cent

d. It has plunged roughly 40 per cent. As of Thursday morning, Tesla shares were down by 39 per cent from the start of the year. The company has suffered from slowing sales and increased competition, especially from China.

7Tesla boss Elon Musk isn’t letting mass layoffs deflect him from a bigger payday. This week he asked shareholders to reaffirm their approval of his compensation package, which was originally estimated to be worth:

a. About US$20-billion

b. About US$42-billion

c. About US$56-billion

d. About US$77-billion

c. About US$56-billion. Mr. Musk’s US$56-billion pay package was rejected by a Delaware judge in January. She termed the compensation “an unfathomable sum” that was unfair to shareholders.

8WestJet Airlines told customers flying to or from Toronto this week to:

a. Expect delays

b. Pack their own lunch

c. Avoid wearing perfume or aftershave

d. Bring only carry-on luggage

b. Pack their own lunch. WestJet said customers flying to or from Toronto should pack their own lunches after 800 workers at a catering company went on strike.

9What do dissident shareholders want Calgary-based retailer Parkland Corp. to do?

a. Put itself up for sale

b. Replace its board of directors

c. Slash costs

d. Boost its dividend

a. Put itself up for sale. Simpson Oil, Parkland’s largest shareholder, wants Parkland to consider new ownership. Engine Capital, a New York-based hedge fund, is also in favor of the idea.

10Why did Google fire 28 employees this week?

a. For protesting the company’s links to Israel

b. For burning an effigy of Donald Trump

c. For protesting executive pay

d. For resisting a return to the office

11What is the average net worth of the top 20 per cent of Canadian households, according to figures published this week by Statistics Canada?

a. $1.4-million

b. $2.1-million

c. $2.8-million

d. $3.3-million

12What is the average net worth of the bottom 40 per cent of Canadian households?

a. $52,000

b. $67,000

c. $150,000

d. $231,000

How well did you do?

Answer all of the questions to see your result

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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