Which of the following represent non-diversifiable risks?

I. the president of a company suddenly resigns

II. the economy goes into a recessionary period

III. a company's product is recalled for defects

IV. the Federal Reserve unexpectedly changes interest rates

a	I and III only
b	I, II, III, and IV
c	I, II and IV only
d	II and IV only
e	I, II and III only