One conceptual problem in assigning assets to M1, M2, and so on, is

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The main conceptual problem in assigning assets to M1, M2, and so on is distinguishing money from "near monies" because the definition of what constitutes money is not always clear-cut. For example, some financial assets, such as savings deposits or money market mutual funds, may be considered "near monies," as they can be easily converted into cash, but are not actual currency or coins. This creates difficulties in accurately measuring the money supply and determining which assets should be included in each category.

One Conceptual Problem in Assigning Assets to M1, M2, and So