Yes, the left shift operation (<<) effectively multiplies a number by 2 raised to the power of the specified shift count. When you left shift a binary number by one position, it is equivalent to multiplying the decimal value by 2. If you left shift by two positions, it is equivalent to multiplying by 2 raised to the power of 2 (2^2), and so on. Therefore, left shifting by 'n' positions is equivalent to multiplying the number by 2^n.