Question 7 Below is the table with the IIT calculations for the Peruvian trade sector. 1 Product weight IIT HIT Weight Peruvian Exports ($ million) 10 Peruvian Imports ($ million) 1338 Pencils 0.0109 0.0148 0.0002 Denim 4652 3892 0.0692 0.9110 0.0631 Pharmaceutical 9 782 0.0064 0.0228 0.0001 35,469 27,932 0.5138 0.8811 0.4527 Food and beverages Fish 38,955 2,513 0.3360 0.1212 0.0407 Laptops 0 7,822 0.0634 0.0000 0.0000 Textbooks 23 0.0002 0.4667 0.0001 Total IIT 0.5569 7.1 According to the Total IIT, what can you say about the Peruvian trade sector? Explain at least two characteristics. 7.2 At the IIT product level, which products follow the H-O trade pattern and which products follow the new trade theory? Why? Include the question number for each answer. Question 7 Below is the table with the IIT calculations for the Peruvian trade sector. 1 Product weight IIT HIT Weight Peruvian Exports ($ million) 10 Peruvian Imports ($ million) 1338 Pencils 0.0109 0.0148 0.0002 Denim 4652 3892 0.0692 0.9110 0.0631 Pharmaceutical 9 782 0.0064 0.0228 0.0001 35,469 27,932 0.5138 0.8811 0.4527 Food and beverages Fish 38,955 2,513 0.3360 0.1212 0.0407 Laptops 0 7,822 0.0634 0.0000 0.0000 Textbooks 23 0.0002 0.4667 0.0001 Total IIT 0.5569 7.1 According to the Total IIT, what can you say about the Peruvian trade sector? Explain at least two characteristics. 7.2 At the IIT product level, which products follow the H-O trade pattern and which products follow the new trade theory? Why? Include the question number for each