Yes. A simple explanation of a rocker arm ratio can be looked at like this. Imagine the rocker arm is a seesaw. It's 1" long on one side and 1.5" long on the other side. The end result is a 1.5:1 ratio. Take your cam lift and multiply it by your rocker arm ratio and you have the valve lift.
Example:
Cam lift .300" x rocker ratio 1.50 = .450" valve lift.
I hope I didn't give too much information for your simple question. I drank 10 Carona's tonight