The Bank of Canada uses six definitions of the money supply, M1+, M1++, M2, M2+, M2++, and M3, because Part 3 A. M2 satisfies the medium of exchange function of money, whereas M1 satisfies the store of value function. B. M1 is a narrow definition focusing more on liquidity, whereas M3 is a broader definition of the money supply. C. M2 is also known as cash and cash equivalent, whereas M1 represents the standard of deferred payment function. D. M3 is a narrow definition focusing more on liquidity, whereas M1 is a broader definition of the money supply