Which of the Following Statements Is INCORRECT

question 97

Multiple Choice

Which of the following statements is INCORRECT?

• A)A monetarist believes that recessions are the result of erratic monetary policy.
• B)A classical macroeconomist believes that the money wage rate adjusts slowly.
• C)A new classical macroeconomist believes the business cycle is the efficient response to the uneven pace of technological change.
• D)A Keynesian believes the business cycle is mainly influenced by changes in people's expectations.

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Definitions:

Jefferson Davis

Jefferson Davis was the President of the Confederate States of America during the American Civil War, representing the Southern states that seceded from the Union.

Northern White Women

Refers to women who lived in the Northern states of the United States during various historical periods, often with different social and economic experiences from those in the South.

Bread Riots

Public disturbances arising from shortages, high prices, or the lack of availability of bread and other staple foods, historically common in times of scarcity and economic distress.