<Li> Non-tariff barriers such as environmental, health or safety standards; </Li> <Li> The availability of adequate foreign exchange with which to pay for imports; and </Li> <Li> Prices of goods manufactured at home (influenced by the responsiveness of supply) </Li> <P> In addition, the trade balance is likely to differ across the business cycle . In export - led growth (such as oil and early industrial goods), the balance of trade will shift towards exports during an economic expansion . However, with domestic demand led growth (as in the United States and Australia) the trade balance will shift towards imports at the same stage in the business cycle . </P>

Which of the following is not true about the us trade balance since 1979