Question : Who gave the concept of 'money illusion' for the first time?
Option 1: Robertson
Option 2: Adam Smith
Option 3: Irving Fisher
Option 4: John Maynard Keynes
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Correct Answer: Irving Fisher
Solution : The correct answer is Irving Fisher.
The concept of 'money illusion' was introduced by the American economist Irving Fisher. Irving Fisher, an influential economist of the late 19th and early 20th centuries, first articulated the concept of money illusion in his work. He discussed it in his book "The Purchasing Power of Money," published in 1911.
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