Which of the following is TRUE?

a.A country with a current account deficit is earning more from its exports than it spends on imports.

b.A current account deficit is always harmful for the economy and should be avoided even if it is sustainable.

c.A country with a current account surplus must be increasing its net foreign debts by the amount of the surplus.

d.We can describe the current account surplus as the difference between income and absorption.

e.All of the above are not true of current account balances.