Question
Comparative statics in mathematics/economics refers
to:Solution
Comparative statics compares two equilibrium positions — the initial equilibrium and the new one after an exogenous parameter change — WITHOUT examining how the economy moves between them. Method: F(y*, x₀) = 0 → change x₀ to x₁ → find new y** where F(y**, x₁) = 0 → compare y* and y**. The mathematical tool is the implicit function theorem / Jacobian to derive ∂y*/∂x. Example: In IS-LM, a rise in G shifts IS right. Comparative statics asks: what are the new Y* and r*? It does NOT ask how the economy adjusts over time to reach the new equilibrium. Options (A), (C), (D) all describe dynamic / stability analysis concepts, not comparative statics.
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