1. Of two products, rice and paintings, which do you expect based on international trade theory and your understanding of intraindustry trade (see chapter 6 of our textbook) to have a higher index of intraindustry trade? Why? Access the US. TradeStats Express website at hgpz/Itse.exportgov/tse/tsehome.aspx. Under "Classication System\" at the upper right-hand corner of the page, select "HS-4." Under the "Product" section on the righthand side of the page, change the item to rice (HS 1006) and obtain the export and import values. You can obtain the export and import values by downloading it. Select the little arrow icon at the top right hand of the page to download. Do the same for paintings (HS 9701) and sunower seeds (HS 1206); then calculate the intraindustry trade index for rice, sunower seeds, and paintings in 2012, 2016, and 2020. a. Do your calculations conrm your expectation from part (a)? If your answers did not confirm your expectation, explain why not. Measuring Intra-Industry.r Trade HT is the part of total trade in the product [exports plus imports) that is not net trade. [IIT}I=[X+M] |XM| where I is the value of exports and M is the value of imports ofthe product. lntra-industrvr trade for a product is equivalent to twice the value of the smaller of exports or imports