M1 and M2 are commonly used definitions for money supply. If you use the debit card connected to your checking account to make purchases, it would be referred to as M1.

Name: M1 and M2 are commonly used definitions for money supply. If you use the debit card connected to your checking account to make purchases, it would be referred to as M1.
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M1 includes physical currency, traveler's checks, demand deposits, and other checkable deposits, such as debit card balances.

M1 and M2 Are Commonly Used Definitions for Money Supply