Which factor is least likely to influence aggregate supply?

Aggregate supply reflects the total supply of goods and services that firms in an economy can produce at a given overall price level in a given time period. The most significant factors influencing aggregate supply include technological advancements, changes in input prices, and improvements in labor productivity.

Technological advancements can lead to more efficient production processes or the introduction of new products, which directly increases the potential output of the economy. Changes in input prices, such as wages and raw materials, will affect the cost of production for firms; lower costs can lead to an increase in supply, while higher costs can constrict it. Labor productivity increases mean that workers can produce more output in the same amount of time, thus enhancing the economy's overall output capacity.

In contrast, government spending levels primarily impact aggregate demand rather than aggregate supply. While government spending can influence economic activity and indirectly affect supply through increased demand for goods and services, it does not directly alter the productive capacity of the economy. Consequently, among the given factors, government spending levels are least likely to influence aggregate supply directly.