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Because the chips from a casino hold no value in a grocery store, they do not fit the definition of money:

A. True
B. False

1 Answer

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Final answer:

The chips from a casino do fit the definition of money within the casino, but lose their value outside. Therefore, the statement is false.

Step-by-step explanation:

The statement is False. The chips from a casino do fit the definition of money within the walls of the casino. They serve as a medium of exchange, a unit of account, and a store of value. However, once you leave the casino, the chips lose their value because they are not widely accepted as a form of payment outside of the casino. This is similar to how money from other countries may not be accepted in a grocery store or movie theater.

User Jason Toms
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