M1 = currency + demand deposits + travelers checks and other checkable deposits (OCDs)
M2 = M1 + overnight RPs and Eurodollars + MMMF (money market mutual fund) balances + MMDAs (money market deposit accounts) + savings and small deposits
M3 = M2 + large time deposits + term RPs + Institutional MMMF
L = M3 + other liquid assets Source: Economic Report of the President, 1985, GNP data from Table B-1, p. 232; money stock data from Table B-61, p. 303.
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