Adam is an economist who believes that in the long run, all prices are flexible and that any increase in the money supply will lead only to inflation, not an increase in aggregate output. Because the economy would self-correct to long-run equilibrium output, there is no role for either fiscal or monetary policy. Adam is best described as a .A. supply-side economist
B. Keynesian economist
C. classical economist
D. Monetarist
E. rational expectations economist

The correct answer is the option C: classical economist.

Explanation:

To begin with, the theory of classical economics was created by the famous Adam Smith and others who also contribute to the model such as David Ricardo. The model belongs to a school of thought that focus main the in the speech of the free trade between the consumers and the companies in oder to establish a balance that is self regulated by natural laws of production and exchange, the well known ''invisible hand'', and therefore that there is no need of the regulation by the government with either fiscal or monetary policy.

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"