long-term loans: loans that mature (come due) in more
than a year.
loss leader: article which is sold at a loss to attract
customers.
M
Ml: the narrowest definition of the U.S. money
supply: includes currency in circulation, demand deposits,
other checkable deposits, and travelers' checks.
M2: a border definition of the U.S. money supply;
includes all of Ml plus savings and time deposits of less than
$100,000, money-market deposit accounts, and shares of money-
market mutual funds held by households and small businesses.
M3: broader definition of money; includes all of M2
plus deposits of $100,000 or more and shares of money-market
mutual funds that are used by large institutions and cor-
porations.
