1. What problems can arise when too much of an economy's wealth is in the hands of a few of the richest people? State as many negative effects as you can while explaining why each is a problem and for whom. 

2. What is the web of poverty? Why is it so difficult for people to escape poverty in the American economy? 

3. How do social programs and anti poverty programs help people dig themselves out of poverty? Why is it effective to help people more directly? Provide one example. 

4. What is inflation? What problems can arise when an economy is experiencing an inflation rate that is too high? 

5. What is a stock market? How do economies use stock markets to connect entrepreneurs with savers to expand business operations? How is this efficient?

6. What is Gross Domestic Product (GDP)? What are some of the limitations of using GDP as a measure of economic well-being?

7. What is the national debt? Why do economists look at a country's national debt as a percent of GDP? Why is it a problem when an economy has a national debt that is a high percent of GDP?