Interpretation:
To show that there is a fixed point for the model and equilibrium state of economy if the rate of the government spending is constant and classify the fixed points a function of
Concept Introduction:
The fixed point is the point at which the first derivative of the system equals to zero.
To check the stability of fixed point use Jacobian matrix
The point
Want to see the full answer?
Check out a sample textbook solutionChapter 6 Solutions
Nonlinear Dynamics and Chaos
- Calculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage LearningAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage