The narrowest definition of the money supply, including cash and checking deposits, is known as

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M1 is defined as the narrowest definition of the money supply and includes highly liquid forms of money such as cash and checking deposits that can be easily used for transactions. M0 only includes the physical currency in circulation, while M payments is not a widely recognized measure of the money supply. Real-value money is not a commonly used term in economics.

The Narrowest Definition of the Money Supply, Including Cash and Checking