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Graphically illustrate (using the WS and PS relations)and explain the effects of an increase in the minimum wage on the equilibrium real wage,the natural rate of unemployment,the natural level of employment,and the natural level of output.
Conformity
The tendency to align one's attitudes, beliefs, and behaviors with those of a group or social norm.
Normative Influence
The impact of the social environment on individuals' behavior, where people conform to the expectations of a group to be liked, accepted, or to avoid disapproval.
Social Pressure
The influence exerted by society or social groups on individuals to conform to expected norms and behaviors.
Milgram's Study
A series of social psychology experiments conducted by Stanley Milgram, which aimed to measure the willingness of study participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.
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