M3 plus borrowings from the private sector by nonbank fi nancial institutions (NBFIs) less currency and bank deposits of NBFIs

The overnight interest rate for unsecured loans between banks

Funds held in accounts at the RBA to facilitate settlement between clearing banks

Unemployment caused by being in transition between jobs

The case in which every person of working age who wishes to work can find employment

The continuous rise in the average price level

The definition of money that focuses on money as a 'medium of exchange'. M1 consists of financial assets that people hold to buy things with (such as currency and current accounts at depository institutions).

M1 plus all other bank deposits of the private nonbank sector (including savings deposits, money-market deposit accounts, overnight repurchase agreements, money-market managed funds and term deposits)

The value of currency held by the private sector plus the value of the deposits made by banks with the RBA and any other liabilities to the private sector held by the RBA

Trading operations undertaken in the fi nancial markets to effect changes in the banks' ESAs

The stability of the average price of all goods and services in the economy

The case in which some of those who are unemployed are unemployed because there is a mismatch between their skill levels and available jobs, or there are jobs in one region of the country but few in another