The IIT JAM 2025 Economics (EC) exam was held today, 2 February 2025 in Shift 2 from 2:30 PM to 5:30 PM and has now been concluded. The IIT JAM Economics exam had a moderate difficulty level for both concept-based and analysis-based questions.
The IIT JAM 2025 Economics Question Paper and the Answer Key will be provided for download soon.
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IIT JAM 2025 Economics(EN) Question Paper with Answer Key PDFs
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The IIT JAM 2025 Economics Question Paper with Solutions
For a positively skewed frequency distribution, ,...............
In 1991, ............. Committee was set up by the Government of India to examine the structure, organisation, and functions of the Indian financial system.
The inflation targeting policy adopted by the Reserve Bank of India in 2015 prescribed the targeted inflation to vary between ______ percent.
Which one of the following is distinct from the others?
Which one of the following is the shut-down condition for a profit-maximizing firm in a perfectly competitive market?
P - Price, AVC - Average Variable Cost, ATC - Average Total Cost
Which one of the following is CORRECT in the context of a natural monopoly?
If a Japanese citizen owns an apartment in India, then the rental income that she earns from that apartment is part of
The consumer price index (CPI) differs from the GDP deflator since it includes goods and services ............. rather than goods and services ...............
"Garibi Hatao" (removal of poverty) and "Growth with Justice" were the slogans of which Five Year Plan.
Which is NOT a function of the Reserve Bank of India?
In statistical hypothesis testing, the area of non-rejection is defined as
If \( \hat{\beta} \) is a consistent estimator of a population parameter \( \beta \); \( \epsilon \) and \( \delta \) are very small quantities, then ..........
Power of a statistical test is defined as
If \( Y = L^a K^b \) is a Cobb-Douglas production function with two factors labor and capital, then the presence of constant returns to scale exhibited by the production function can be tested using ...........
In the context where sample mean of the dependent variable \( Y \) lies closer to the observed \( Y_1 \) than its least square predictor \( \hat{Y}_1 \), ............
Which one of the following statements is CORRECT?
Public sector undertakings can affect the government exchequer through
According to the IS-LM model, if the central bank increases money supply, then the rate of interest will ........... and the income will ..............
Consider the following cases:
I. Rosy buys a 50-year-old house for her family this year.
II. This year, Cathy builds a new house for herself.
The total investment in the economy in this context is ..........
Consider a firm that produces a single good using labour and capital. Let \( C, Q, L, K, w, r, p \) denote cost of production, level of output, labour, capital, wage rate, price of capital, and the price of output, respectively.
An example of the cost function for this firm is .........
Consider a consumer with the utility function, \( U(x, y) = y + \sqrt{x} \), where \( x \) and \( y \) are quantities of two commodities consumed.
Which one of the following is TRUE?
In a two-goods consumption framework, Engel curve shows the relationship between ..........
Theory of revealed preference is used to derive ............
Consider the statements I and II in a monopolistically competitive market scenario:
I. In the long-run equilibrium, the price of the good will be equal to the minimum of the average total cost.
II. In the short run, firms may earn a positive profit.
Which of the following options is CORRECT?
If average variable cost (AVC) curve is an upward sloping straight line through the origin, then the marginal cost curve will be ............
In the case of ‘liquidity trap’, ..........
Mid-day meal scheme for Indian school children was first introduced in ............
Tax buoyancy is defined as .............
You 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 ............
Marginal utility of a good refers to the ............
Which of the following statements describe(s) the relationship between \( R^2 \) and adjusted \( R^2 \) (denoted by \( \bar{R}^2 \))?
Which of the following is/are NOT the assumption(s) of Classical Linear Regression Model (CLRM)?
Which of the following is/are NOT TRUE?
Which of the following is/are the shock(s) to the IS curve?
Which of the following is/are CORRECT in the case of a small open economy with floating exchange rate?
Which of the following is/are CORRECT according to the classical macroeconomic school?
In the case of first-degree price discrimination, which of the following statements is/are CORRECT in the long run?
Which of the following statements is/are CORRECT for diseconomies of scale?
Market failure occur(s) in the presence of which of the following?
Which of the following reference period(s) is/are used by the National Sample Survey for measuring employment and unemployment?
The correlation coefficient between \(x\) and \(y\) using the following information is (rounded off to two decimal places).
\[ \sum_{i=1}^{100} x_i = 280, \quad \sum_{i=1}^{100} y_i = 60, \quad \sum_{i=1}^{100} x_i^2 = 2384, \quad \sum_{i=1}^{100} y_i^2 = 117, \quad \sum_{i=1}^{100} x_i y_i = 438 \]
Two 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).
A monopolist produces two commodities 1 and 2 in quantities \(x_1\) and \(x_2\) at a constant average cost of Rs.2.50 and Rs.3.00 per item, respectively. If \(p_1\) and \(p_2\) stand for the prices charged and the market demands are:
\[ x_1 = 5(p_2 - p_1) \quad and \quad x_2 = 32 + 5p_1 - 10p_2 \]
The price \(p_1\) for commodity 1 at which the monopolist's total profit is maximised is (rounded off to two decimal places).
Suppose the GDP growth rate is 8% and the rate of saving in the economy is 40%.
The incremental capital output ratio (ICOR) is ............
A 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 decimal places).
The composition of the adult population in an economy is as follows:
Employed: 140 million; Unemployed: 10 million; Not in labour force: 50 million.
The rate of unemployment is .......... % (rounded off to two decimal places).
A monopolist produces a product and sells to two types of buyers: A and B. The inverse demand functions for A and B are given by \( P = 50 - 5Q \) and \( P = 100 - 10Q \), respectively. The monopolist’s cost function is given by \( C = 90 + 20Q \).
The profit maximizing output of the monopolist for buyer B is .........
The sum of the payoffs to the players in the Nash equilibrium of the following simultaneous game is .........…
Suppose 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 velocity of money is ..............
Suppose 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 Rs.1 and that of \( y \) is Rs.2, and income of the consumer is Rs.100, utility maximizing quantity consumption of \( x \) is ..........
The value of the derivative of the function \( y = x e^x \) at \( x = 1 \) is ........... (rounded off to two decimal places).
The present value of a perpetual cash flow of Rs.250 per year, discounted at the rate of 10% each year, is .........
An 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 income. Assume that the consumption in any year depends on the income of the previous year.
The national income of the economy after 10 years is Rs. ........... (rounded off to two decimal places).
Anubhab faces a multiple-choice question (MCQ) with four alternative choices, where only one is the right choice. There is no negative mark for making a wrong choice. Also, assume that the probability that he knows the answer is 0.50. The probability of making the correct choice is 0.25, if he does not know the answer. He got full marks in this question.
The probability that he knew the answer is ......... (rounded off to one decimal place).
You are tossing a fair coin repeatedly until a ‘Head’ appears. The expected number of tosses required for a ‘Head’ to appear is ...........
Lerner Index (\( L \)), a measure of market power, is defined as \( L = \frac{P - MC}{P} \), where \( P \) and \( MC \) are, respectively, price and marginal cost of a firm.
If a profit maximizing firm faces the demand curve \( P^2 Q = 7 \), the value of \( L \) is ............ (rounded off to one decimal place).
Demand curve for a commodity in your consumption basket is given by \( P^2 Q^5 = 392.67 \).
The absolute value of your own price elasticity of demand for this commodity is ........ (rounded off to one decimal place).
Price 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 money is spent on that brand of milk by a particular family in each of these months.
The average monthly price of milk paid by this family during these months is ............ per litre (rounded off to one decimal place).
Consider the economy described by the following: \[ Y = C + I + G \quad with \quad Y = 5000, \, G = 1000, \, T = 1000, \quad and \quad C = 250 + 0.75(Y - T), \]
where \( Y \), \( C \), \( I \), \( G \), and \( T \) are national income, private consumption spending, investment expenditure, government expenditure, and tax revenue respectively.
In this economy, private saving is ............
Consider the matrix 
. The value of the determinant of \( A^5 \) is .......... (rounded off to two decimal places).
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