Final answer:
The statement is false; Modernism began around 1900 and differed from the earlier Romanticism, while Minimalism is a later development within the modern period.
Step-by-step explanation:
The statement that the modern period includes periods of Minimalism and Romanticism is false. The Modernism period in the arts is typically considered to have begun around 1900 and is characterized by a departure from the past, focusing on new forms of expression and questioning traditional norms. This period was distinct from Romanticism, which preceded it and was dominant in the 19th century, focusing on emotion, nature, and the individual. Minimalism, conversely, is part of the late modern period and is characterized by its simplicity and rejection of excess.