Final answer:
The effect of gravitational waves from a binary system is orbital decay; the others listed are separate gravitational phenomena. Space-time and light are both influenced by gravity.
Step-by-step explanation:
Among the effects of gravitational waves propagating outward from a binary system, the correct answer is c) Orbital decay. This phenomenon occurs when the binary system loses energy in the form of gravitational waves, causing the two objects to spiral closer together.
This effect has been observed in binary neutron star systems and can be explained by Einstein's theory of general relativity. While time dilation and gravitational lensing are also linked to general relativity, they are not caused by the propagation of gravitational waves. Magnetic field generation is not directly linked to gravitational waves either.
The space-time continuum is indeed distorted by gravity, which also affects the motion of light. Consequently, the correct answer to the GRASP CHECK question is d) The space-time continuum is distorted by gravity, and gravity affects the motion of light. This distortion can manifest as gravitational lensing, where light from distant sources is bent around massive objects, and is a separate effect from the ripples in space-time caused by gravitational waves.