Question

Which one of the following statements are correct?
I-The socialism system is the precursor to feudalism
II- The invisible hand doctrine suggests that total economic surplus of society is maximized
III- The government tax break given when buying an electric car is an example of indicative planning
IV- A statement that involves priorities and value judgments is generally regarded as a normative statement

Question 36 options:

	1) I, II and III
	2) II, III and IV
	3) I, III and IV
	4) all of the above

Answer 1

2) II, III and IV

(Socialism comes after feudalism and not before it. Thus, first statement is false while all others are true.)