Civilian Popuation LF Participation Rate 130,000 90% 125,000 120,000 85% 115,000 110,000 80% 105,000 100,000 75% 95,000 90,000 70% 0 2 3 5 6 0 1 2 3 4 5 6 Year Year Employment Annual Real Wage 91,000 21,000 88,000 20,000 85,000 82,000 19,000 79,000 18,000 76,000 17,000 73,000 70,000 16,000 67,000 15,000 2 3 5 2 3 Year Year The government of a newly established small nation has hired you as an economic consultant to look into their labor market conditions. The country has some some fragmented macroeconomic data for the past five years presented in the above graphs. On the basis of the above graphs, which of the following can you conclude for sure about the labor market conditions in this nation over the past five years (the question is about the shifts in the supply of labor and demand for labor functions)? O Supply of labor and demand for labor have both been increasing (shifting to the right). O Supply of labor and demand for labor have both been decreasing (shifting to the left). O Supply of labor has been increasing, demand for labor has been decreasing. O Supply of labor has been decreasing, demand for labor has been increasing. O Supply of labor has been increasing, but we cannot tell what was happening to demand for labor. O Supply of labor has been decreasing, but we cannot tell what was happening to demand for labor. O Demand for labor has been increasing, but we cannot tell what was happening to supply of labor. O Demand for labor has been decreasing, but we cannot tell what was happening to supply of labor