Define the carbon tax and cap and trade. How do they work? Describe the differences and similarities between the carbon tax and cap and trade. Of these two market based mitigation policies, which do you believe would be the most effective in reducing GHG emissions? 42. Explain why the planet will not feel the largest effects of climate change until the end of the 21st century. Make sure to discuss radiative forcing and the energy balance. 43. Of all the impacts of climate change that the planet will face (global warming, precipitation changes, sea level rise, ocean acidification, ecological changes, etc.), which do you believe is the most serious and most concerning? Why?