Economic Glossary | Indirect Tax | Bankers Algo
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Economic Glossary

    Indirect Tax

A tax that increases the price of a good so that consumers are actually paying the tax by paying more for the products. An indirect tax is most often thought of as a tax that is shifted from one taxpayer to another, by way of an increase in the price of the good. Fuel, liquor and cigarette taxes are all considered examples of indirect taxes, as many argue that the tax is actually paid by the end consumer, by way of a higher retail price.


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Banker's Algo Daily Dose

Word of the day

Famish(v)

Meaning:

Reduce someone to extreme hunger

Synonyms: abstain, deny oneself, diet, fast

Antonyms: eat, glut, gorge, stuff

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Question

What is the sum of positive integers less than 100 which leave a reminder 1 when divided by 3 and leave a remainder 2 when divided by 4?

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