Tony,age 15,is Claimed as a Dependent by His Grandmother

question 155

Multiple Choice

Tony,age 15,is claimed as a dependent by his grandmother.During 2016,Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $800.Tony's taxable income is:

• A)$1,800.
• B)$1,800 - $800 - $1,050 = ($50).
• C)$1,800 - $1,150 = $650.
• D)$1,800 - $1,050 = $750.
• E)None of these.

---

Definitions:

Economic Growth

An increase in a country's production of goods and services over a period, often measured by the rise in its Gross Domestic Product (GDP).

Environment

Refers to the natural world, including the air, water, and land in which people, plants, and animals live.

Tragedy of the Commons

This concept describes a situation where individual users, acting independently according to their own self-interest, deplete or spoil shared resources through collective action.

Public Grazing Plots

Areas of land made available by governments or local authorities for the grazing of livestock by the public or specific community members.