Which of the Following Statements Is INCORRECT

question 22

Multiple Choice

Which of the following statements is INCORRECT?

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

---

Definitions:

Culturally Inherited Traits

Characteristics, values, or customs passed down from one generation to another within a culture.

Subtle Discrimination

Discrimination that occurs in a less obvious or indirect manner, often through seemingly neutral practices that have discriminatory effects.

Race Categories

Social constructs dividing people into groups based on physical characteristics, often used for demographic and statistical purposes.

Ethnic Identity

A person's sense of belonging to a particular ethnic group, including the cultural traditions and values associated with it.