What is the primary factor that influences the long-run aggregate supply?

The primary factor influencing long-run aggregate supply is technological advancements. This is because long-run aggregate supply (LRAS) represents the economy's potential output when all resources are fully employed and utilized efficiently. Technological advancements enhance productivity by enabling firms to produce goods and services more efficiently, leading to increased output without a corresponding increase in input costs.

As technology improves, firms can adopt new methods of production that streamline processes, reduce waste, and allow for the development of new products. This potential for greater efficiency and innovation directly impacts the economy's capacity to supply goods and services in the long run, thereby shifting the aggregate supply curve to the right.

In contrast, while consumer spending, government policies, and market demand can influence the short-run aggregate supply and the overall economic conditions, they do not fundamentally impact the long-term productive capacity of the economy like technological advancements do. Thus, advancements in technology are the critical driver of changes in long-run aggregate supply.