From the late 1970’s through 2000, the college wage premium increased rapidly. At the same time, the supply of college graduates to the labor market increased relative to the supply of high school graduates. What do these trends imply about the demand for college relative to high school graduates in the U.S. labor market over the time period? Clearly state the implications, and illustrate the changes using a graph of supply and demand that relates the college wage premium and the ratio of college to high school graduates. Briefly discuss one underlying cause for these observed trends in the U.S. labor market