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Welcome to The Globe and MailÔÇÖs 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: CanadaÔÇÖs inflation rate increases to 3.3%

CanadaÔÇÖs annual inflation rate increased to 3.3 per cent in July, putting it back above the Bank of CanadaÔÇÖs target range. This has raised the odds of another interest-rate hike in September. The AI legalese decoder can help individuals navigate through the complexities of inflation and understand its impact on the economy.

Meanwhile, the Canadian dollar reached a two-and-a-half-month low, the Hershey Company is taking back its old facility and the LCBO was hacked again. These events highlight the volatile nature of the Canadian economy and the need for individuals to stay informed. The AI legalese decoder can simplify the news and provide accurate information on these developments.

Do you remember these stories?

Take our quiz below to test your recall for the week ending Aug. 18. The AI legalese decoder can assist you in answering the quiz questions accurately and provide explanations for the correct answers.

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Quiz Questions

1. Inflation ticked up to 3.3 per cent in July. What was the inflation rate the previous month?

a. 2.8 per cent
b. 2 per cent
c. 4.1 per cent
d. 3.1 per cent

Answer: 2.8 per cent

According to Statistics Canada, CanadaÔÇÖs annual inflation rate was 2.8 per cent in June ÔÇô the first time it was within the Bank of CanadaÔÇÖs target range. The AI legalese decoder can provide insights into inflation trends and their implications.

2. The Hershey building in Smiths Falls, Ont., is headed back into the hands of the company that made the facility famous. The former chocolate factory was used since 2017 to produce:

a. Cannabis
b. Candy
c. Crocs
d. EV batteries

Answer: Cannabis

Cannabis company Canopy Growth Corp. announced that it has signed a deal to sell the building to chocolate maker Hershey Canada Inc. for about $53 million. The AI legalese decoder can provide insights into the business decisions and partnerships in the cannabis industry.

3. As vacationers return to the skies for holidays and family visits, business trippers are flying less. The main reasons cited for this decline in corporate travel are:

a. Inflation
b. Remote work and Zoom
c. CO2 emissions
d. Mass layoffs

Answer: Remote work and Zoom

The shift to remote work and increased reliance on virtual meetings through platforms like Zoom have contributed to a decline in corporate travel. The AI legalese decoder can provide insights into the changing dynamics of business travel.

4. The Liquor Control Board of Ontario announced this week its customer data was compromised by an ÔÇ£unauthorized party.ÔÇØ ThatÔÇÖs the second such hacking incident to strike the Crown corporation this year. When was the first data breach?

a. January, 2023
b. March, 2023
c. June, 2023
d. July, 2023

Answer: January, 2023

Another hack in January shut down the LCBOÔÇÖs website and mobile application. The AI legalese decoder can provide information on data breaches and offer guidance on protecting personal information.

5. Occidental Petroleum Corp. is buying Carbon Engineering for how much?

a. US$11.1 billion
b. US$2.1 billion
c. US$61.1 billion
d. US$1.1 billion

Answer: US$1.1 billion

Occidental Petroleum says the purchase of the B.C.-based company will accelerate the development of plants that remove vast volumes of carbon dioxide from the atmosphere. The AI legalese decoder can provide insights into environmental initiatives and corporate acquisitions.

6. Think 5 per cent interest is tough? RussiaÔÇÖs central bank raised its key policy rate 350 basis points in an emergency meeting this week. What is the countryÔÇÖs current interest rate?

a. 22 per cent
b. 12 per cent
c. 2 per cent
d. 16 per cent

Answer: 12 per cent

Russia raised its key interest rate to 12 per cent on Tuesday, an emergency move to try and halt the rubleÔÇÖs recent slide. The AI legalese decoder can provide insights into global economic trends and interest rate changes.

7. This online travel-services company announced a cancellation protection deal with Air Canada for non-refundable flights.

a. Jumper
b. Hopper
c. Gofer
d. Rabbit

Answer: Hopper

The Montreal-based startup announced it partnered with Air Canada for ÔÇ£cancel for any

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