Definition of money illusion in English:

money illusion

noun

mass nounEconomics

词汇	money illusion
释义	Definition of money illusion in English: money illusion noun mass nounEconomics Belief that money has a fixed value in terms of its purchasing power, so that, for example, changes in prices represent real gains and losses. 〔经济〕货币错觉（认为货币有固定价值的购买力，因此价格变化意味着实际得失） Example sentencesExamples As evidence of the perverse effect of the money illusion, let me cite a survey reported by sociologist Norval Glenn. There existed, and had to be taken into account, something of a money illusion. The implications of wage stickiness and the possibility of a money illusion have been discussed at least since Keynes. While deflation is in place, the money illusion will cause profits to be overstated, as in Japan today, which moderates the level of bankruptcies. Ignoring the effects of this productivity growth is akin to money illusion in periods of inflation.
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