Answer to question 1
The setting reveals that he is not an excessively wealthy man himself, but he lives surrounded by wealthy people.
Answer to question 2
The reader can see Tom and Daisy are wealthy people have little regard for others and are unconcerned about the problems their actions may create.
Answer to question 3
The 1920's
Answer to question 4
Readers immediately recognize that Tom is a cruel bully.
Answer to question 5
Consciously provides readers with a limited, one sided description of events as Nick sees them.