b. Taming Wage Increases In recent months the Federal Reserve has argued that part of the inflation that we are seeing in the U.S. can be traced back to increases in wages in the labor market. For this reason it has tried to implement policies to reduce labor demand and tame wage increases, although analysts fear that this may lead to increases in unemployment. Use the graphical analysis of the frictionless model, under the situation where the minimum wage is below the equilibrium wage, to explain why a decrease in labor demand can lead to a decrease in wages. Explain also why only if the decrease in labor demand is very large this will lead to an increase in unemployment. [Note: Full credit for this question requires the correct graph) (45 points)