Final answer:
The statement that is NOT true about Rawls' two principles of justice is that the principles rule out economic inequalities. Rawls does allow for economic inequalities as long as they adhere to certain conditions.
Step-by-step explanation:
To determine which statement is NOT true about Rawls' two principles of justice, we should look at each option in the context of John Rawls's theory of justice. The first incorrect statement is option 4, which suggests that the two principles of justice rule out economic inequalities. This is not true because, according to Rawls, inequalities are permissible as long as they satisfy two conditions: they are attached to positions open to all under conditions of fair equality of opportunity, and they are to the greatest benefit of the least advantaged members of society (the Difference Principle). Therefore, Rawls does not rule out economic inequalities; he allows them if they adhere to certain principles of justice.