I am curious to know why if a mathematical expression contains an exponential function that expression may NOT be considered an algebraic expression, but if it contains a power function (if the variable is the base of a power expression) then that expression as a whole can be considered an algebraic expression.
Why is the power function considered an algebraic function, but the exponential function is NOT algebraic?
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It is not clear what you had in mind.
But if $K = \mathbb{Q}, \mathbb{R}$ or $ \mathbb{C}$ then $K[x]$ is the ring of polynomial functions $P(x) = \sum_{n=0}^N a_n x^n$ and $K(x)$ is the field of rational functions $\frac{P(x)}{Q(x)}, P,Q \in K[x]$.
Then you can add more elements (such as $\sqrt[l]{x}$) to obtain the algebraic closure $\overline{K(x)}$, the field of functions $f$ satisfying a polynomial equation $\forall x,\sum_{n=0}^d P_n(x) f(x)^n=0, P_n \in K(x)$.
Also note $K(x)$ is closed under differentiation, but it doesn't contain any (non-zero) solution for $f' = cf , c \in K^*$ and more generally $\sum_{k=0}^M a_k f^{(k)} = 0$. Adding those yields a new set of functions, containing the trigonometric functions, the exponential being a solution of $f' = f$.
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Algebraic expressions are those that only include algebraic operations, i.e. addition and multiplication, and when it makes sense, taking multiplicative inverses. Also, taking roots is still algebraic.
Thus, $x^n = x\cdot x\cdots x$ is algebraic expression.
Any polynomial $p(x) = \sum_{k=0}^n a_kx^k$ is algebraic expression.
However, $e^x$ for some real number $x$ is different kind of beast and there are many ways to define it, but I think the most illustrative way in this case would be to define it by series:
$$e^x = \sum_{n=0}^{\infty}\frac{x^n}{n!} = \lim_{n\to\infty}\sum_{k=0}^{n}\frac{x^k}{k!}$$
which is no longer algebraic expression, but a limit of algebraic expressions. Limits are no longer algebraic constructs, but belong to topology instead and hence, exponential function is no longer algebraic, but analytic.
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To add to the other answers, $x^\sqrt{2}$ where $x$ is a positive real is typically not considered algebraic because it is not obtainable by arithmetic and taking roots of polynomial equations. Note that $x^\sqrt{2} = \exp(\sqrt{2}\ln(x))$. So it is typically not true that "if the variable is the base of a power expression then that expression can be considered algebraic".
An algebraic expression is made up of polynomials. In these expressions, no operations are used other than the ring operations of multiplication and addition. Thus $x^6$ is just $x\times x\times x\times x\times x\times x$. In order to express $6^x$ on the other hand, for a real variable $x$, we really need transcendental functions such as $\exp$ and $\log$.
The roots of polynomials are algebraic numbers; roots of transcendental functions may, in general, be transcendental numbers. As soon as we use transcendental functions we really are playing a different game. We are no longer simply working in a ring, but we are dealing with functions that we need convergence to describe. Thus, topology is now present, and it's no longer a purely algebraic system.