Exactly
If you want to know some tricks to make multiplying fractions even easier, you can do what's called cross canceling. This works when you have the same number in one of the numerators and denominators.
Example:
See how I got rid of a 2 in the numerator and denominator? That's because you can essentially rewrite the fractions in any order because order doesn't matter when multiplying. So therefore, you can rewrite it as 1/3*2/2 instead of 1/2*2/3. 2/2 is 1, so it would give you 1/3*1, which you can easily see is 1/3. For smaller fractions it doesn't matter much, but later on this will be very helpful once you start dealing with very large functions involving fractions.
And to add onto that, you can do it when the numbers are different but are factors of each other, also by rewriting the fractions to make them easier.
Here's an example:
See how I rewrote 4 as 2*2? This allowed me to use cross canceling again to simplify the fraction and make it easier to solve.
For the example you posted you can actually use cross canceling for both fractions. Do you want to try it? It's going to be super useful in the future, it'll practically save your life.