Macroeconomic Concepts and Basic Identities

Constantin Ciurlău
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Constantin Ciurlău: University of Craiova, Romania

Annals of the University of Petrosani, Economics, 2001, vol. 1, 5-17

Abstract: 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.

Keywords: Aggregate Production; Gross Added Value; Net Added Value; National Income; Gross Domestic Product; Gross National Product; inflation; economic growth; macroeconomic identities; investment; savings; final consumption; the multiplier; the equilibrum value of national income; expenditure of the government; Keynesian Theory (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pet:annals:v:1:y:2001:p:5-17

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