The concept of a self-regulating economy was developed by the classical economists and is advocated by some

Question:

The concept of a self-regulating economy was developed by the classical economists and is advocated by some modern economists.
1. Describe how a self-regulating economy moves out of a recessionary gap.
2. Describe how a self-regulating economy moves out of an inflationary gap.
3. Describe the implication of believing an economy is self-regulating.