Suppose that the U.S. economy is at full employment when strong economic growth in Asia increases the demand for U.S.-produced goods and services. Explain how the U.S. price level and real GDP will change in the short run. Explain how the U.S. price level and real GDP will change in the long run if the Fed takes monetary policy actions that are consistent with its objectives as set out in the Federal Reserve Act of 2000. Explain whether the Fed faces a tradeoff in the short run. What is the Fed's "dual mandate" for the conduct of monetary policy? What are the means to achieving the goals of the dual mandate