Money Supply Game
Drag each item into every box where it belongs. The original item stays in the tray, so you can use it more than once. For example, cash held by the public belongs in M0, MB, M1, and M2. You may also tap an item and then tap a box.
M0
Drop items here
M1
Drop items here
M2
Drop items here
MB
Drop items here
Items — each one remains here after you place it
0 of 9 items fully complete
Correct placement Wrong placement — click it to remove
What Is Included in Each Money Measure?
Current U.S. definitions are nested: an item in M1 is also in M2. M0 is a commonly used classroom label, MB is the monetary base, and M3 is shown only as a historical measure.
| Component | M0 | MB | M1 | M2 | M3* |
|---|---|---|---|---|---|
| Notes and coins held by the public | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash stored in bank vaults | — | ✓ | — | — | — |
| Bank reserve balances at the Federal Reserve | — | ✓ | — | — | — |
| Demand deposits and other checkable deposits | — | — | ✓ | ✓ | ✓ |
| Savings deposits, including bank MMDAs | — | — | ✓ | ✓ | ✓ |
| Small time deposits under $100,000 | — | — | — | ✓ | ✓ |
| Retail money-market mutual funds, non-retirement | — | — | — | ✓ | ✓ |
| Large time deposits, institutional MMFs, and certain repos | — | — | — | — | ✓ |
| IRA and Keogh balances held at banks or money funds | — | — | — | Subtract | — |
Current M1 rule: Since May 2020, savings deposits and bank money-market deposit accounts are included in M1, so they are also in M2.
July 2026 rule: IRA and Keogh balances at banks and money funds are subtracted at the total-M2 level.
MB versus M1: MB includes bank vault cash and reserve balances. M1 currency includes currency held outside depository institutions, not vault cash.
*M3: Historical only. The Federal Reserve stopped publishing M3 in 2006.
Sources: Federal Reserve H.6 current release · H.6 technical Q&A · M3 discontinuation notice