Consider two countries with the following characteristics. Country Omega has no restrictions on bank branching and banks in Country Omega are permitted to offer investment and insurance products along with traditional banking services. In Country Alpha, there are strict limits on branch banking and on the geographical spread of a banks business. In addition, banks in Country Alpha are not permitted to offer investment or insurance services. a. In which country do you think the banking system is more concentrated? Country (Click to select)OmegaAlpha is likely to have a more concentrated banking system because (Click to select)fewermore banks would be needed to service the entire country. In Country Alpha, branching restrictions are likely to give rise to a (Click to select)largesmall number of (Click to select)largersmaller banks. b. In which country do you think the banking system is more competitive? The experience in the United States with the McFadden Act would suggest that the banking system would be more competitive in Country (Click to select)OmegaAlpha. Although banking restrictions are often intended to prevent concentration and monopoly power in the banking system, the outcome in the United States was a range of (Click to select)smalllarge inefficient banks that faced (Click to select)littlea lot of competition in the geographic area in which they operated. c. In which country do you think, everything else being equal, banking products are cheaper? In Country (Click to select)OmegaAlpha, banks can take better advantage of economies of scale and scope and so banking products are likely to be cheaper.