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Not quite; macadam is the 18th-c. invention of Mr Macadam, viz. a carefully laid roadbed of different grades of crushed stone: larger stones as a foundation layer, and smaller stones on top. This could be laid on surfaces other than bedrock, drained well, and stood up to the passage of vehicles; tarmac was a later invention, which sprayed tar on top as a binder to keep dust down. Modern asphalt lays the aggregate and tar in one.
But macadam is short for tarmacadam, which is tarmac, otherwise known as asphalt.