IIT JAM 2025 question paper

All 60 questions from the IIT JAM 2025 IIT JAM Economics paper. Open any question for the worked solution.

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1. Q1For a positively skewed frequency distribution,.
2. Q2In 1991, Committee was set up by the Government of India to examine the structure, organisation, and functions of the Indian financial system.
3. Q3The inflation targeting policy adopted by the Reserve Bank of India in 2015 prescribed the targeted inflation to vary between percent.
4. Q4Which one of the following is distinct from the others?
5. Q5Which one of the following is the shut-down condition for a profit maximizing firm in a perfectly competitive market? (P = Price, AVC = Average…
6. Q6Which one of the following is CORRECT in the context of a natural monopoly?
7. Q7If a Japanese citizen owns an apartment in India, then the rental income that she earns from that apartment is part of.
8. Q8The consumer price index (CPI) differs from the GDP deflator since it includes goods and services rather than goods and services.
9. Q9"Garibi Hatao" (removal of poverty) and "Growth with Justice" were the slogans of Five Year Plan.
10. Q10Which is NOT a function of the Reserve Bank of India?
11. Q11In statistical hypothesis testing, the area of non-rejection is defined as.
12. Q12If β̂ is a consistent estimator of a population parameter β; ε and δ are very small quantities, then.
13. Q13Power of a statistical test is defined as.
14. Q14If Y=L^αK^β is a Cobb-Douglas production function with two factors labor and capital, then the presence of constant returns to scale exhibited by…
15. Q15In the context where sample mean of the dependent variable (Ȳ) lies closer to the observed Yᵢ than its least square predictor (Ŷᵢ),.
16. Q16Which one of the following statements is CORRECT?
17. Q17Public sector undertakings can affect the government exchequer through.
18. Q18According to the IS-LM model, if the central bank increases money supply, then the rate of interest will and the income will.
19. Q19Consider the following cases: I. Rosy buys a 50-year-old house for her family in this year. II. This year, Cathy builds a new house for herself. The…
20. Q20Consider a firm that produces a single good using labour and capital. Let C, Q, L, K, w, r and p denote cost of production, level of output, labour…
21. Q21Consider a consumer with the utility function U(x,y)=y+√x where x and y are quantity of two commodities consumed. Which one of the following is TRUE?
22. Q22In a two-goods consumption framework, Engel curve shows the relationship between.
23. Q23Theory of revealed preference is used to derive.
24. Q24Consider the statements I and II in a monopolistically competitive market scenario: I. In the long-run equilibrium, the price of the good will be…
25. Q25If average variable cost (AVC) curve is an upward sloping straight line through the origin, then the marginal cost curve will be an.
26. Q26In the case of 'liquidity trap',.
27. Q27Mid-day meal scheme for Indian school children was first introduced in.
28. Q28Tax buoyancy is defined as.
29. Q29You are measuring level of consumption of a good commodity on the X-axis and that of a bad commodity on the Y-axis. The indifference curve is.
30. Q30Marginal utility of a good refers to the.
31. Q31Which of the following statements describe(s) the relationship between R² and adjusted R² (denoted by R̄²)?
32. Q32Which of the following is/are NOT the assumption(s) of Classical Linear Regression Model (CLRM)? (A) Variance of the dependent variable (Yᵢ) is…
33. Q33Which of the following is/are NOT TRUE? (A) Arithmetic mean is always greater than or equal to the geometric mean of a set of positive values. (B)…
34. Q34Which of the following is/are the shock(s) to the IS curve? (A) Changes in the demand for consumer goods. (B) Self-fulfilling waves of optimism and…
35. Q35Which of the following is/are CORRECT in the case of a small open economy with floating exchange rate? (A) Fiscal expansion raises income. (B)…
36. Q36Which of the following is/are CORRECT according to the classical macroeconomic school? (A) Long run aggregate supply curve is vertical. (B) If long…
37. Q37In the case of first-degree price discrimination, which of the following statements is/are CORRECT in long run? (A) Total surplus is equal to firm's…
38. Q38Which of the following statements is/are CORRECT for diseconomies of scale? (A) The elasticity of cost with respect to output is less than one. (B)…
39. Q39Market failure occur(s) in the presence of which of the following? (A) Externality. (B) Public good. (C) Market power. (D) Private good.
40. Q40Which of the following reference period(s) is/are used by the National Sample Survey for measuring employment and unemployment? (A) One year. (B)…
41. Q41The correlation coefficient between x and y using the following information is (*rounded off to two decimal places*). Σᵢ₌₁¹⁰⁰ xᵢ=280, Σᵢ₌₁¹⁰⁰ yᵢ=60…
42. Q42Two cards are drawn from a full pack of 52 cards at random. The probability of getting a heart and a diamond is (*rounded off to two decimal places*).
43. Q43A monopolist produces two commodities 1 and 2 in quantities x₁ and x₂ at a constant average cost of Rs.2.50 and Rs.3.00 per item, respectively. If…
44. Q44Suppose the GDP growth rate is 8% and the rate of saving in the economy is 40%. The incremental capital output ratio (ICOR) is.
45. Q45A fair coin is tossed 3 times in succession. The probability of the event that 'both first and second toss result in *head*' is (*rounded off to two…
46. Q46The composition of the adult population in an economy is: Employed: 140 million; Unemployed: 10 million; Not in labour force: 50 million. The rate…
47. Q47A monopolist produces a product and sells to two types of buyers: A and B. The inverse demand functions for A and B are P=50-5Q and P=100-10Q…
48. Q48The sum of the payoffs to the players in the Nash equilibrium of the following simultaneous game is. Player X chooses C or NC and Player Y chooses C…
49. Q49Suppose an economy produces 100 kg of rice in a year and sells that for Rs.100 per kg. If the quantity of money in the economy is Rs.500, then the…
50. Q50Suppose utility function of a consumer is u(x,y)=xy, where x and y are quantities of the two commodities consumed. If price of x is Re.1 and that of…
51. Q51The value of the derivative of the function y=x^(e^x) at x=1 is (*rounded off to two decimal places*).
52. Q52The present value of a perpetual cash flow of Rs.250 per year, discounted at the rate of 10% each year, is Rs..
53. Q53An economy saves 25% of its national income and invests a sum of Rs.1000 each year. The economy starts with Rs.10,000 as its initial national…
54. Q54Anubhab faces a multiple-choice question (MCQ) with four alternative choices, where only one is the right choice. There is no negative mark for…
55. Q55You are tossing a fair coin repeatedly until a 'Head' appears. The expected number of tosses required for a 'Head' to appear is.
56. Q56Lerner Index (L), a measure of market power, is defined as (P-MC)/P, where P and MC are, respectively, price and marginal cost of a firm. If a…
57. Q57Demand curve for a commodity in your consumption basket is given by P²Q⁵=392.67. The absolute value of your own price elasticity of demand for this…
58. Q58Price of milk of certain brand was Rs.28/litre and Rs.36/litre in the months of September and October of 2015, respectively. Assume equal amounts of…
59. Q59Consider the economy described by the following: Y=C+I+G with Y=5000, G=1000, T=1000, and C=250+0.75(Y-T), where Y, C, I, G, and T are national…
60. Q60Matrix A=[4 -1; 12 -3]. The value of the determinant of A⁵ is.