Macroeconomic Concepts and Basic Identities

The paper focuses on macroeconomics understood as a major part of economic science concerned with the whole economic system involving such variables as aggregate (total) production, national income, added value, gross domestic product, gross national product, economic growth, aggregate employment, inflation and so on, and relevant relationships established between these categories. Using definitions borrowed from the National Accounts, the paper shows some identities, which are very important at macroeconomic level. The Keynesian theory of multiplier and employment is also outlined in order to conceive macroeconomic policies against cyclical unemployment and other undesirable phenomenon associated with rapid economic development.