In the context of the passage, which of the following statements about exponential functions is true?

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Q: In the context of the passage, which of the following statements about exponential functions is true?

Solution: Exponential functions grow or decay at a rate that is proportional to their current value, which is a defining characteristic.

Steps: 4

Step 1: Understand what an exponential function is. It is a mathematical function where a constant base is raised to a variable exponent.
Step 2: Recognize that exponential functions can either grow (increase) or decay (decrease) over time.
Step 3: Identify that the rate of growth or decay of an exponential function is not constant; it changes based on the current value of the function.
Step 4: Conclude that the defining characteristic of exponential functions is that their growth or decay rate is proportional to their current value.