1. Explain the United States' national debt. Responses may include; the size of the debt, deficit vs debt, causes of the debt, Treasury bonds and bills, countries that own US debt, and when the US debt was $0. 2. Discuss money. Be sure to include the three jobs of money, list the characteristics of money, and M1 and M2. 3. Discuss the Federal Reserve. Responses could include, the structure and function of the the Fed, and/or money creation and monetary policy. 4. Discuss economic theory. Topics can include classical economic thought, John Maynard Keynes, monetarism, and supply-side economics. 5. Discuss international trade. Topics can include absolute advantage, comparative advantage, outsourcing, quotas, tariffs, embargoes, and globalization. 6. Explain how nations benefit from trade. Full credit answers will include the topics of specialization and the production possibilities curve/frontier. Pages 568-571 will be very helpful as you prepare a response