The time constant in exponential decay is the time over which the decaying quantity is multiplied by . A response approaching equilibrium as has the same time constant. For a resistor-inductor circuit it is .
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The time constant is a measure that characterizes the time response of a system, typically in the context of first-order linear systems, such as electrical circuits (like RC circuits) and mechanical systems (like damped harmonic oscillators). It provides a way to quantify how quickly a system responds to changes in input.