The GOY model is a model for turbulence in which two conserved quantities cascade up and down a linear array of shells. When the viscosity parameter, small nu, Greek, is small the model has a qualitative behavior which is similar to the Kolmogorov theories of turbulence. Here a static solution to the model is examined, and a linear stability analysis is performed to obtain response eigenvalues and eigenfunctions. Both the static behavior and the linear response show an inertial range with a relatively simple scaling structure. Our main results are: (i) The response frequencies cover a wide range of scales, with ratios which can be understood in terms of the frequency scaling properties of the model. (ii) Even small viscosities play a crucial role in determining the model's eigenvalue spectrum. (iii) As a parameter within the model is varied, it shows a "phase transition" in which there is an abrupt change in many eigenvalues from stable to unstable values. (iv) The abrupt change is determined by the model's conservation laws and symmetries.