The commercial banking industry in canada is less

(7) “The commercial banking industry in Canada is less competitive than the
commercial banking industry in the United States because in Canada only a few
large banks dominate the industry, while in the United States there are around
6,500 commercial banks.” Is this statement true or false? Explain your answer.
A. True. The reason for the large number of US banks is regulations that
promote competition such as branching restrictions
B. False. It is not true that the industry is dominated by a few large firms;
thus, based on the Herfindahl-Hirschman Index, the banking industry in
Canada is just as competitive as in the United States
C. True. The banking industry is less competitive in Canada than in the
United States because Canada has a national banking system, i.e., owned
and operated by the government
D. False. The reason for the large number of US banks is anticompetitive
regulations such as branching restrictions
(8) As a result of strict banking regulations, the United States has: (9) What are the disadvantages of interstate banking? ( Circle all that apply. )