Holly and Ken (Both Age 46)are Married and Have Three

question 38

Multiple Choice

Holly and Ken (both age 46) are married and have three children living at home: Ken,Jr.,age 21,goes to college full-time on a scholarship and earned $7,000 from his part-time job; Sara is 19 and earned $19,000 as a secretary; Claudia is 15 and is in high school.Claudia made $42,000 as a model this year,all of which was put into a trust account except for her manager's fee.Ken made $65,000 in 2015 as an engineer and Holly earned $7,000 as a substitute teacher.If they have $18,000 of itemized deductions,what is Holly and Ken's tax liability on their joint return in 2015?

• A)$4,877.50
• B)$4,777.50
• C)$5,477.50
• D)$6,077.50

Identify the correct application of conditional logic in formulas to drive data analysis.

Understand the role of special formatting characters and error messages in Excel spreadsheets.

Master the use of advanced Excel functions such as nested IF statements and absolute cell references.

Learn how to create and interpret Excel charts, including the use of sparkline and clustered column charts.

---

Definitions:

Sectoral Shifts

Changes in the economic landscape that affect specific sectors of the economy, leading to shifts in labor demand and supply.

Structural Unemployment

A form of unemployment caused by a mismatch between the skills that workers in the labor market offer and the skills demanded by employers.

Demand for Output

The desire and willingness of consumers or businesses to purchase goods or services produced within an economy.

Frictionally Unemployed

Individuals temporarily out of work while transitioning from one job to another or actively searching for new employment.