Final answer:
When the cell reference $a5 is moved two columns to the right and two rows down, it changes to $a7 because the column is absolute and doesn't change, while the row is relative and increments by two.
Step-by-step explanation:
If the cell reference $a5 in a formula is copied and pasted over two columns and down two rows from its original cell, the dollar sign in the reference indicates that the column reference is absolute, meaning it will not change. However, since the row reference does not have a dollar sign in front of it, it is relative and will change. Therefore, after moving the cell reference over two columns to the right and down two rows, the column stays the same (A), but the row increases by two (5 + 2), resulting in the new cell reference being $a7.