Limited participation and the neutrality of money.

standard of value is useful in overcoming sum of two units types of frictions. First, in barter exchange, standard of value helps to mitigate double-coincidence frictions that arise in unraveled economies where economic agents are specialized in production and consumption. next to the first in trades involving credit, information frictions may imply that individual economic agent has difficulty getting another economic agent to accept his or her IOUs in exchange for profitables and services. In an economy with monetary exchange, abundant more can be achieved than in an economy without circulating medium Even so, one of the lock opener lessons of monetary economics