ENERGY PRICES, AGGREGATE SUPPLY DETERMINANT: One of several specific aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and that shifts the aggregate supply curve when it changes. An increase in the energy prices causes a decrease (leftward shift) of the aggregate supply curve. A decrease in the energy prices causes an increase (rightward shift) of the aggregate supply curve. Other notable aggregate supply determinants include technology, wages, and the capital stock. Energy prices fall under the resource price aggregate supply determinant.

     See also | aggregate supply determinants | aggregate supply shifts | change in aggregate supply | change in real production | slope, aggregate supply curve | resource quantity, aggregate supply determinant | resource quality, aggregate supply determinant | resource price, aggregate supply determinant | energy prices, aggregate supply determinant | technology, aggregate supply determinant | capital stock, aggregate supply determinant | aggregate demand determinants | aggregate supply | short-run aggregate supply | long-run aggregate supply | short-run aggregate supply curve | long-run aggregate supply curve | gross domestic product | price level | real production | GDP price deflator | real gross domestic product | production cost | AS-AD analysis | aggregate market | business cycles | circular flow | Keynesian economics | monetary economics | flexible prices | inflexible prices | short-run aggregate supply and market supply | aggregate market shocks | self correction, aggregate market |