The most basic equations in dynamics relate to a particular point of time. We may see a train at rest or we may watch it passing a level crossing at a constant velocity. It is then a question of specifying precisely the forces that make it move forward at that velocity. It may also be accelerating or decelerating at that particular point of its journey. Similarly with the rates of increase in an economy.
KeywordsInterest Rate Fiscal Policy Technological Progress Institutional Arrangement Fundamental Equation
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