Why, after years of looking inward, did the United States suddenly begin a “quest for empire” in the late 19^thcentury? Hawaii is one of the 50 states. The U. S. governed the Philippines through World War II. The Panama Canal Zone was an official U. S. territory until recently. What do you think of how the U. S. acquired these and other colonial possessions during this era?   

On October 10, 2019, the exchange rate for the US Dollar vs. the Swedish Krona was $1 = SEK 9.95. Over the following year, the US Dollar weakened vs. the Swedish Krona and the exchange rate was $1 = SEK 8.78 on October 10, 2020. Imagine you are an executive at a Swedish company that manufactures all of its products in Sweden. You are thinking of expanding to the United States. These two questions affect of the weakening of the US Dollar vs. the Swedish Krona on the company's expansion.

a) Would your company be more likely or less likely to build your own distribution center in the United States?

b) How would the exchange rate affect the prices of your products sold in the United States? (Remember they are manufactured in Sweden.)

The United States has maintained a trade embargo against Cuba since February 1962 in response to actions taken by the Cuban government. The primary idea behind an embargo of this nature is to punish to Cuban government by restricting trade with a large economy such as that of the United States, but embargos tend to have other repercussions as well. What I'd like you to do, in 300-400 words, is explain what some of these repercussions have been, who they have impacted, and briefly explain whether or not you feel that the embargo is beneficial in the year 2020.

Since 1980, the United States has undertaken a set of “10 year plans” called Health People Initiatives. What are the major differences between Health People 2020 from any of the previous Health People Initiatives?

1. In 2020, the United States is at a similar crossroads to the 1890s and 1910s--should the nation continue shouldering the international responsibilities of being the world's only superpower, or should America scale back on its international commitments and responsibilities? Why or why not?

XXX Corporation acquired 80% of the outstanding shares of United Company on June 1, 2020 for P3,517,500. United Company’s stockholders equity components at the end of this year as follows: Ordinary shares, P100 par, P1,500,000, Share premium P675,000 and Retained earnings P1,335,000. Non-controlling interest is measured at fair value and the fair value is P705,000. The assets of united were fairly valued, except for inventories, which are overstated by P66,000 and equipment which was understated by P90,000. Remaining useful life of equipment is 4 years. Stockholder’s equity of XXX on January 1, 2020 is composed of ordinary shares P4,500,000, Share Premium P1,050,000, Retained Earnings P3,150,000. Goodwill, if any, should be written down by P85,350 at year-end. Net income for the first year of parent is P450,000 and the net income of subsidiary from the date of acquisition is P255,000. Dividends declared at the end of the year amounted to P120,000 and P90,000 for XXX and United respectively. During the year, there was no issuance of new ordinary shares .

What is the amount of consolidated shareholder’s equity and the non-controlling interest on December 31, 2020?

1. As of January 1, 2020 (before the rapid spread of the Coronavirus) was the United States economy operating in the Keynesian, intermediate, or neoclassical portion of the economy’s Short Run Aggregate Supply Curve? Explain your answer carefully using data and information that you have gathered regarding real GDP, unemployment, the GDP deflator, and inflation. You should discuss the concepts of potential GDP and the natural rate of unemployment to receive full credit.

The United States has returned to a zero-interest rate policy in March 2020. Discuss the pros and cons of this policy. Should Australia opt for a zero-interest rate policy? Explain your answer.(the answer is expected to be around 200 words.)

QUESTION 2

The Hickey Family trust, established under Australian law, has the following income for the year ended 30 June 2020:

• Australian sourced business income                                                               $100,000
• United States sourced business income                                                          $50,000
• Capital gain on property held for 5 years                                                       $60,000

Assume there are no allowable deductions for the year ended 30 June 2020.

The three beneficiaries of the trust are:

• Earl – A 50 year old United States Resident who is not under a legal disability
• Randy – Earl’s 48 year old brother who lives in Australia and is under a legal disability.
• Joy – Earl’s ex-wife, a 40 year old Australian resident who is not under a legal disability and has a carried forward capital loss of $20,000

REQUIRED

B) What is the net income of the trust for the year ended 30 June 2020?

b) Advise the trustee of the most tax effective way to distribute the trust income for the year ended 30 June 2020.

Make sure you explain your answer.

You are not required to perform any calculations to answer this question.

If the United States Constitution were being drafted today in 2020, do you think all of the Bill of Rights ( First 10 Amendments) would be included? What would be added, taken away or changed and why? Please be specific in your response.