The long-run aggregate supply curve (LRAS) corresponds to full-employment real GDP with zero frictional and structural unemployment

The export of wheat will be included in the calculation of GDP using the ________ method

A) income B) expenditure C) investment D) production

In the short run, an increase in inflation by the Fed not matched by an increase in the expected inflation rate results in ________ in the long-run Phillips curve and ________ in the short-run Phillips curve

A) no change; a downward shift B) a rightward shift; an upward shift C) a rightward shift; a downward shift D) no change; no change E) a leftward shift; an upward shift