The M2 includes balances in saving accounts, certificates of deposit, and money market account balances, the M1 & M2 includes Currency, traveler's checks, and balances in checking accounts while the M1 nor M2 are Credit Cards, Gold, and Common Stock.
This refers to the total amount of money such as cash, coins, balances in bank accounts that are in circulation in a year.
The M1 means the most liquid money that comprised of the currency, traveler’s check, and checking account deposits.
The M2 is broader measure of Ms although it is has a less liquid measure compared to M1 and consists of currency, traveler’s checks, checking deposits, savings accounts, money market mutual funds etc
The M3 is broader measure of Ms as it includes M2 money as well as large time deposits, institutional money market funds, short-term repurchase agreements, larger liquid funds etc.
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