IIT JAM 2026 question paper

All 60 questions from the IIT JAM 2026 IIT JAM Economics paper. Open any question for the worked solution.

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1. Q1If kurtosis is defined as (m₄/σ⁴-3), where m₄ is the 4^(th) order central moment and σ is the standard deviation, then its value is positive for
2. Q2Which one of the followings is a relative measure of dispersion?
3. Q3Which one of the followings was NOT part of India's economic reforms in 1991?
4. Q4India's Second Five-Year Plan (1956-61) was developed based on
5. Q5Let e, R, and p represent own price elasticity of demand, total revenue, and price, respectively for a good. If (∂ R)/(∂ p)<0, then
6. Q6Which one of the following statements is CORRECT for the general equilibrium analysis for a two-person and two-good pure exchange economy?
7. Q7Which one of the following statements is CORRECT in the context of Gross Domestic Product (GDP) calculation?
8. Q8The relationship between tax revenue and tax rate is represented by.
9. Q9The Permanent Settlement Act of 1793 primarily aimed at
10. Q10The area under the curve f(x)=x⁵ e^(x³) between x=1 and x=2 is
11. Q11In a year of 366 days, what is the chance that three persons have different birthdays?
12. Q12Let Yₜ be the value of Y in year t. The natural logarithmic value of Yₜ is regressed on t. A simple linear regression yields the statistically…
13. Q13For a sample of employees participating in an annual appraisal, the effect of the participants' performance on their wages is studied. Variables are…
14. Q14A monopolist sells different units of output for different prices, but every individual who buys the same quantity of the good pays the same price.…
15. Q15Consider a social welfare function (SWF) defined as SWF=f(U₁,U₂,…,Uₘ), where Uᵢ is the utility of the i^(th) person and there are m people. Identify…
16. Q16The Taylor rule is used by the Central Banks mainly
17. Q17Which one of the following statements regarding Romer's Endogenous Growth model and Solow's Growth model is CORRECT?
18. Q18In the context of Reserve Bank of India's monetary policy, which one of the following options represents the CORRECT order of magnitude?
19. Q19Which one of the following statements is CORRECT in the context of positive consumption externality?
20. Q20Consider a case of negative production externality, where MSC is marginal social cost, MPC is marginal private cost, and MPB is marginal private…
21. Q21Which one of the following statements is CORRECT in the context of price indices?
22. Q22Which one of the following statements is CORRECT in the context of the Keynesian Absolute Income Hypothesis?
23. Q23Consider a closed economy IS-LM model with downward sloping IS curve. If there is an increase in government spending, then which one of the…
24. Q24Consider the Mundell-Fleming model with flexible exchange rate for a small open economy characterised by a downward sloping IS curve and a vertical…
25. Q25In India, plan-holiday was declared between
26. Q26Consider a simultaneous game with players X (strategies Top, Bottom) and Y (strategies Left, Right). Payoffs (i,j) give X 's and Y 's payoffs…
27. Q27A 2×2 matrix Z=[Z₁ Z₂; Z₃ Z₄] has the properties: (i) Zᵢ∈ℝ for all i; (ii) Zᵢ≠ 0 for some i; and (iii) Z=Z²=Z³=⋯. Which one of the following options…
28. Q28A single-input production function is given by Q=L⁰·²⁵, where Q>0 and L>0 denote output and the single input. The unit price of L is w>0. The cost…
29. Q29Consider the statements: I. Income elasticity of demand for a normal good is positive. II. Income elasticity of demand for an inferior good is…
30. Q30Consider a demand curve represented as q^ap^b=c, where q is the quantity demanded, p is the per unit price, and a, b, and c are all positive…
31. Q31Identify the CORRECT relationship(s) between the average product of labour (AP_L) and marginal product of labour (MP_L) in the short-run.
32. Q32Consider the demand and supply functions: D(p)=400-8p and S(p)=2p, where p is the unit price and the choke price is Rupees 50. Identify which of the…
33. Q33Goods market: Y=C+I+G, C=20+0.75(Y-T), T=-40+0.2Y, I=240-8i, G=300. Money market: M^s=M^d, M^d=0.2Y-15i, M^s=200. Identify the CORRECT option(s).
34. Q34Identify the CORRECT statement(s) in the context of an open economy.
35. Q35In the context of Keynesian money demand, ceteris paribus, the real demand for money increases when
36. Q36Which of the following statement(s) is/are CORRECT regarding Skill Development in India as highlighted in the Economic Survey 2024-25?
37. Q37Consider the Cobb-Douglas production function Q(K,L)=AK⁰·⁵L⁰·⁵, A>0, where Q is output produced with capital K and labour L. Assuming K is a…
38. Q38Identify the CORRECT feature(s) of the Indian labour market since the year 2000.
39. Q39Which of the following indicator(s) is/are used by the NITI Aayog's Sustainable Development Goal (SDG) India Index 2023-24 report to measure India's…
40. Q40Identify the regulatory institution(s) in India.
41. Q41Harmonic mean of the following twelve observations: 15, 20, 20, 5, 20, 20, 15, 20, 15, 20, 20, and 20 is (*rounded off to one decimal place*).
42. Q42It is given that Prob(-1≤ z≤ 1)=0.683, Prob(-2≤ z≤ 2)=0.954, and Prob(-3≤ z≤ 3)=0.997, when z follows a standard normal distribution. If X follows a…
43. Q43The arithmetic mean of consumption expenditures for 5 members is Rupees 40, with standard deviation of Rupees 7. Three new members are added, and…
44. Q44Consider a game of coexistence where everyone exhibits two kinds of behaviour: 'Hawk' and 'Dove'. Payoffs: Hawk-Hawk (-2,-2), Hawk-Dove (4,0)…
45. Q45The utility function of a consumer in a two-good world is u(x₁,x₂)=minimum{x₁,x₂}, where x₁ and x₂ are quantities of goods X₁ and X₂. The market…
46. Q46Consider the following for a country: GDP = 7500, receipts of factor income from the rest of the world = 200, payments of factor income to the rest…
47. Q47Consider an AK growth model where the growth rate of per-capita output, population growth rate, and depreciation rate are 4%, 2%, and 4%…
48. Q48In an expectations-augmented Phillips curve equation, expected inflation rate and natural rate of unemployment are 5% and 4%, respectively. The…
49. Q49The maximum value of the objective function (x+y) subject to the constraint (x²+y²)=2 is (*in integer*).
50. Q50The value of the first derivative of f(x)=(3x³+2x²+x+1)² evaluated at x=2 is (*in integer*).
51. Q51The variance of a population is 4, but its mean (μ) is unknown. A sample of size 25 is drawn to test H₀:μ=4.8. The sample elements x₁,…,x₂₅ satisfy…
52. Q52A firm has monopoly in production of two goods X and Y. The markets do not interact. The profit function is π(x,y)=25x+13y-2.5x²-y²+xy-10, where x…
53. Q53The chance of rain on a picnic day is 40%. If it rains, the chance the picnic is 'good and enjoyable' is 30%. If it does not rain, that chance is…
54. Q54Negative production externality: Supply curve P=15+0.08Q, Demand curve P=40-0.15Q, where P is price per unit and Q is quantity. If marginal external…
55. Q55In a two-good world, utility is u(x₁,x₂)=x₁ x₂. Each good's market price is Rupee 1 and disposable income is Rupees 100. If the price of X₂ is…
56. Q56A duopoly market has demand P=120-0.6Q with Q=Q₁+Q₂, and cost functions C₁=6Q₁ and C₂=0.5Q₂², where P is unit price, Cᵢ is the cost function and Qᵢ…
57. Q57For a closed economy: Sₜ=aYₜ and Iₜ=g(Yₜ-Yₜ₋₁), where Sₜ, Yₜ and Iₜ are savings, income and investment in period t, and a and g are positive…
58. Q58Y=C(Y_d)+I(r)+G+NX(ϵ); Y_d=Y-T. Given Y=5000, G=1000, T=1000, C=250+0.75Y_d, I=1000-50r, NX=500-500ϵ, and r=5. If G decreases to 750, then the…
59. Q59Consider a Solow model with production Y=K^αL^(1-α), where Y, K and L are output, capital and labour, and α is a positive constant. The savings…
60. Q60Consider the population regression Yᵢ=α+β Xᵢ+uᵢ, estimated by OLS. Given sample size 100, Σ Xᵢ²=460000, Σ Yᵢ²=320000, Σ Xᵢ=6000, Σ Yᵢ=500, and Σ Xᵢ…