What is the total supply of money called?

The monetary base is traditionally regarded as the most liquid measure of the money supply, indicating its high degree of accessibility and ease of exchange. It represents the total amount of currency in circulation, both physical and digital, in an economy.

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M1, another crucial monetary aggregate, excludes bank reserves from its calculation. This measure of money supply focuses primarily on the most liquid forms of money that are readily available for spending, such as currency in circulation and demand deposits.

In contrast to M1, M2 provides a broader perspective on the money supply by incorporating not only M1 components but also "close substitutes" for M1. These substitutes include time deposits, savings accounts, and other forms of money that, while less liquid than M1, can still be converted into cash or used for transactions with little notice.

MB, also known as the monetary base or total currency, serves as the foundation upon which various monetary forms are built. It is the cornerstone from which other types of money, such as checking deposits, derive their existence.