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What is the necessary condition for the self correcting mechanism to work - what triggers the self correcting mechanism? Answer: For the self correcting mechanism

What is the necessary condition for the self correcting mechanism to work - what triggers the self correcting mechanism? Answer: For the self correcting mechanism to get triggered, prices and wages have to be flexible. In a recession prices and wages have to be flexible downward, in inflation price and wages have to be flexible ________

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