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Define the following terms: East Frankish Kingdom
M3
M2 plus large-denomination time deposits.
M1
A category of the money supply that includes physical currency and coins, demand deposits, traveler’s checks, and other checkable deposits.
M2
A measure of the money supply that includes cash, checking deposits, and easily convertible near money.
M3
A measure of the money supply that includes M2 plus large time deposits, institutional money market funds, and short-term repurchase and other larger liquid assets.
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