M2 includes M1 plus all of the following except

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M2 includes M1 (currency in circulation, demand deposits, traveler's checks, and other checkable deposits) plus savings deposits, retail money market mutual funds, and small-denomination time deposits. However, short-term U.S. government securities are not included in M2 but rather in M3, which is a broader measure of money supply that includes M2 plus large-denomination time deposits, repurchase agreements, and institutional money market mutual fund balances.

M2 Includes M1 Plus All of the Following Except