The word cycle suggests a regular, recurring pattern of activity. Is there a regular pattern to the business cycle? Support your answer by examining the duration (number of months) of each expansion and contraction in Figure.

The shaded areas represent periods of economic contraction (recession). The table lists the dates of business cycle. The peak dates indicate when contraction began;

Peaks April 1960 December 1969 November 1973 January 1980 July 1981 July 1990 March 2001 December 2007 Troughs February 1961 November 1970 March 1975 July 1980 November 1982 March 1991 November 2001 June 2009 Real GDP (billions of dollars) 14,000 13,500 13,000 12,500 12,000 11,500 11,000 10,500 10,000 9,500 9,000 8,500 8,000 7,500 7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1955 1960 1965 1970 1975 1980 1985 1990 19 Year