​18.​Are currency and checkable deposits owned by the government (U.S. Treasury) and the Federal Reserve Bank, commercial banks, and other financial institutions part of the money supply? Explain....

​18.​Are currency and checkable deposits owned by the government (U.S. Treasury) and the Federal Reserve Bank, commercial banks, and other financial institutions part of the money supply? Explain. ​19.​What is the difference between the M1 and M2 definitions of the money supply?