Evaluate and compare the economic and distributional impacts of implementing a carbon tax versus a cap-and-trade system in emerging market economies. The quiz will test knowledge of modeling approaches (CGE, partial equilibrium, incidence analysis), effects on energy-intensive industries (competitiveness, production costs, leakage risk), household welfare across income groups (price pass-through, regressivity), and policy design levers (revenue recycling, targeted transfers, border adjustments). Respondents must synthesize trade-offs and recommend policy adjustments to mitigate adverse distributional effects.