Answer
$\text{exponential growth}$
Work Step by Step
RECALL:
The exponential function $y=c \cdot b^x$ represents:
(1) an exponential growth when $b\gt 1$.
(2) an exponential decay when $0\lt b \lt 1$.
The given exponential function has $b=3.03$, which is greater than $1$.
Thus, the exponential function represents an exponential growth.
