Indicate whether each of the following statements is True or False. In each case, give a brief explanation for your choice.  Q.1.1 Technology is always treated as a factor of production in economic theory.  Q.1.2 An important aspect of using money in an economy is that the process of exchange, can take place without worrying about there being a double coincidence of wants. Q.1.3 It is common knowledge that debit cards and cheques are perfect substitutes for money.

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