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    Instructions 2/3
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On the following pages, you will be presented with information about hypothetical outcomes relating to the <b>stock market</b> and, in some cases, to your <b>personal employment situation</b> as well.<br><br>

These outcomes are shown as branches, with each branch indicating a situation that might happen at the end of the year. All situations are equally likely to happen. So, if you see only two outcomes, there is a 50-50 chance of having each occur at the end of the year.  <br><br>

The information about the stock market is for a mutual fund that passively invests in a broad blue-chip stock market index, such as the S&P 500 or the Dow Jones Index. Each branch represents <b>the value of a $1 investment</b> at the end of the year. For example, a value of $1.20 indicates that your investment grew by 20% and a value of $0.90 indicates that you lost 10% of your investment. In this example, both outcomes are equally likely. Below you can see an illustration of how this will look like. <br><br>

 <center> <img src="{{ static 'example_stock_only.jpg' }}" width="700" height=auto/> </center> <br><br>

Your personal <b>employment situation</b> is related to changes in your salary for the year. When available, you will see this information on the right of the stock market outcome. Below you can see an illustration of how this will look like. <br><br>

In this case, the upper branch means that, when the investment value increases by 20%, your salary will decrease by 5%. Conversely, the lower branch means that, when the investment value declines by 10%, your salary will increase by 5%.  <br><br>

In other words, a branch represents a <b>joint outcome.</b> Moreover, both branches are equally likely.  <br><br>

 <center> <img src="{{ static 'example_unemployment.jpg' }}" width="700" height=auto/> </center> <br><br>

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In some cases, there will be <b>uncertainty</b> surrounding your employment situation. In such cases you will be shown the probability of being unemployed at the end of the year. Below you can see an illustration of how this will look like. <br><br>

In this case, the upper branch means that, when the investment value increases by 20%, you will also be unemployed in 2 out of 10 cases (20%). Conversely, the lower branch means that, when the investment value declines by 20%, you will unemployed in 9 out of 10 cases (90%).   <br><br>

 <center> <img src="{{ static 'example_unemployment_uncertain.jpg' }}" width="700" height=auto/> </center> <br><br>
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