Ron, Age 19, Is a Full-Time Graduate Student at City

question 45

Multiple Choice

Ron, age 19, is a full-time graduate student at City University.During 2017, he received the following payments: $\begin{array}{lr}\text { Cash award for being the outstanding resident adviser } & \$ 1,500 \\\text { Resident adviser housing } & 2,500 \\\text { State scholarship for ten months (tuition and books) } & 6,000 \\\text { State scholarship (meals allowance) } & 2,400 \\\text { Loan from college financial aid office } & 3,000 \\\text { Cash support from parents } & 2,000\\&\$17,400\end{array}$ ? Ron served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied.What is Ron's adjusted gross income for 2017?

• A)$1,500.
• B)$3,900.
• C)$9,000.
• D)$15,400.
• E)None of these.

---

Definitions:

Product Adopters

Individuals who purchase or use a new product early in its life cycle, typically categorized by their willingness to adopt innovations.

Diffusion of Innovation

A theory that describes how, why, and at what rate new ideas and technology spread through cultures, from inception to widespread adoption.

Product Line

A group of related products marketed under a single brand name that serves a particular market segment or fulfills a specific customer need.

Product Class

A category that groups products based on their function, consumer perceptions, or attributes, such as electronics or household goods.