In a dilute system of instantons and antiinstantons, the U-A(1) and scale a
nomalies are shown to be directly related to the bulk susceptibility and co
mpressibility of the system. Using 1/N-c (where N-c is the number of colors
) as a book-keeping argument, mesonic, baryonic and gluonic correlators are
worked out in p-space and Fourier transformed to x-space for a comparison
with recently simulated correlators. The results are in overall agreement w
ith simulations and lattice calculations, for distances up to 1.5 fm, despi
te the fact that some channels lack the necessary physical singularities. W
e analyze various space-like form factors of the nucleon and show that they
are amenable to constituent quark form factors to leading order in 1/N-c.
Issues related to the lack of confinement in the model and its consequence
on the various correlation functions and form factors are also discussed.