Which of the following tournaments is conducted by the PGA of America?

The PGA Championship is the tournament conducted by the PGA of America, making it the correct choice. This event is one of the four major championships in professional golf and has been a key part of the PGA's mission to promote the sport and its professional players.

The U.S. Open, The Masters, and the British Open, on the other hand, are not organized by the PGA of America. The U.S. Open is run by the United States Golf Association (USGA), The Masters is organized by the Augusta National Golf Club, and the British Open, or The Open Championship, is conducted by The R&A. Each of these tournaments has its own governing body and distinctive characteristics, but it is the PGA Championship that falls under the auspices of the PGA of America.