The majority of the basic money supply (M1)in the United States is in the form of

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M1 includes currency in circulation (i.e., physical money) and transactions accounts (i.e., checking accounts, demand deposits, and other accounts that allow for immediate access to funds). Savings accounts and certificates of deposit are not considered part of M1 because they typically have restrictions on the frequency and timing of withdrawals. Gold and traveler's checks are also not considered part of M1, as they are not widely accepted as a medium of exchange for goods and services.

The Majority of the Basic Money Supply (M1)in the United