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(10 points) Calculate the intra-industry trade index for rice (HS 1006) and paintings (HS 9701) in 2005. To obtain the export and import values,...

5. (10 points) Calculate the intra-industry trade index for rice (HS 1006) and paintings (HS 9701) in 2005. To obtain the export and import values, access the US TradeStats Express website at http://tse.export.gov/. Click on “National Trade Data” then “Global Patterns of US Merchandise Trade”. Under the “Product” section, change the item to rice, or paintings. Which product did you expect to have a higher index of intra-industry trade, and why?

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