Static analysis is timeless, whereas in dynamic analysis, time is one of the variables considered.
Static analysis is timeless, whereas in dynamic analysis, time is one of the variables considered.
In static analysis, basic economic conditions are known and taken as given, but in dynamic analysis they change over time.
In static analysis, basic economic conditions are known and taken as given, but in dynamic analysis they change over time.
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Dynamic analysis is useful in making predictions (for e.g., about economic output), which static analysis does not allow.
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Dynamic analysis is useful in making predictions (for e.g., about economic output), which static analysis does not allow.
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For more information on this topic, visit [http://books.google.co.in/books?id=ChuoPjW9NXcC&pg=PA34&lpg=PA34&dq=static+economy+dynamic+economy&source=bl&ots=mR9baKunpc&sig=PB5VqxD11tlmzM6DMPAInRzERKk&hl=en&sa=X&ei=3N_fUd2IDcuPrgfnpYDADQ&ved=0CDoQ6AEwAjgK#v=onepage&q=static economy dynamic economy&f=false this link]