This economics report analyzes the impact of increasing the minimum wage in Australia, focusing on the strategies employed to raise wage rates, such as collective bargaining and legal enactments like the Factories Act of 1896. The report examines the effects of minimum wage increases on prices, goods and services, and the labor market, including the potential for wage-push and demand-pull inflation. It uses supply and demand diagrams to illustrate the consequences of wage adjustments on aggregate demand, supply, and price levels. The report also references key macroeconomic problems like unemployment and analyzes how minimum wage policies influence these issues. The analysis incorporates relevant figures and references to support its arguments and findings, providing a comprehensive overview of the economic implications of minimum wage policies in the Australian context.