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What is Ultimatum? An ultimatum (Latin: the last one) is a demand whose fulfillment is requested in a specified period of time and which is backed up by a threat to be followed through in case of noncompliance. An ultimatum is generally the final demand in a series of requests. What is Recession? In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utiliza