Using attosecond transient absorption, the dipole response of an argon atom in the vacuum ultraviolet (VUV) region is studied when an external electromagnetic field is present. An isolated attosecond VUV pulse populates Rydberg states lying 15 eV above the argon ground state. A synchronized fewcycle near infrared (NIR) pulse modifies the oscillating dipoles of argon impulsively, leading to alterations in the VUV absorption spectra. As the NIR pulse is delayed with respect to the VUV pulse, multiple features in the absorption profile emerge simultaneously including line broadening, sideband structure, sub-cycle fast modulations, and 5-10 fs slow modulations. These features indicate the coexistence of two general processes of the light-matter interaction: the energy shift of individual atomic levels and coherent population transfer between atomic eigenstates, revealing coherent superpositions. An intuitive formula is derived to treat both effects in a unifying framework, allowing one to identify and quantify the two processes in a single absorption spectrogram.Recently, attosecond transient absorption (ATA) spectroscopy has demonstrated great success in accessing ultrafast dynamics of bound and autoionizing systems in rare gas atoms [1-10] and diatomic molecules [11][12][13]. In this technique, dipole allowed states (bright states) are coherently populated by a broadband attosecond pulse, forming a wavepacket. The coherence between each individual excited state and the initial ground state forms a polarization dipole. Upon the arrival of a delayed short near infrared (NIR) pulse, these dipoles are subject to a complex amplitude change that occurs within a few femtoseconds, leading to novel absorption features in the transmitted spectrum of the attosecond pulse. Various dynamical aspects of the initially launched wavepacket are imprinted in the delay-dependent absorption spectra. Thus far, ATA studies have generally been carried out at photon energies ranging from 20 to 100 eV due to more efficient high harmonic generation above 20 eV. Here, we report ATA experiments on Ar atoms at photon energies around 15 eV, enabling a detailed study of electronic wavepacket dynamics for Rydberg states approaching the first ionization threshold of Ar.There are two major effects of the NIR pulse in ATA experiments. First, it shifts the energy of the individual states, generally known as the ac Stark shift. Secondly, it transfers population between different bright states by a two photon process. How these two effects manifest themselves in an ATA measurement is the essence of understanding the observables in such an experiment. The ac Stark shift corresponds to the energy difference between a dressed energy level and its field-free counterpart. In the time domain, it originates from the extra phase modulation, introduced by the NIR field, on the states of interest. The ac Stark shift manifests itself as reshaping of the absorption line profile in an ATA experiment [14,15]. On the other hand, population transfer between different b...