M-1 Definition
M-1 (em′wun′)
noun
Econ. a measure of the U.S. money supply comprising currency in circulation and all types of checking accounts: other measures (M-1A, M-1B, M-2, M-3, etc.) include other components of the money supply, as time deposits and money market funds
Etymology: m(oney) + identifying numeral
M-1 Usage Examples
Modifies a noun
variable: When regressing using dummy variables, if a qualitative variable has m categories, we can introduce only m-1 dummy variables.
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