(2) In the United States, more than 50% of banks have less than $100 million in...

(2)   In the United States, more than 50% of banks have less than $100 million in assets: T or F?
(3)   In 1980, there were 14,404 commercial banks in the United States, but now there are 5,116 in 2020: T or F?
(4)   The U.S. banking industry is highly concentrated compared with other industries in the United States or compared with the banking industry in other countries: T or F?
(5)   The U.S. banking industry is one of the most heavily regulated industries in the U.S.: T or F?
(6)   The importance of banks as a source of funds to nonfinancial borrowers has shrunk dramatically in the U.S. over the past five decades or so: T or F?
(7)   Currently the United States has about five banks per million people, compared with slightly more than one per million in Japan and fewer than one per million in Canada: T or F?
(8)   The dual banking system was created by the National Bank Act of 1863: T or F?
(9)   All national banks are required to be member banks of the Federal Reserve System: T or F?
(10)   State banks are not required to become members of the Federal Reserve System, and currently only one in four state banks is a member: T or F?

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Expert Solution

Rahul Sunny answered 1 year ago

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