Yep. This is especially observable in archery, since arrows drop off over such a shorter distance than bullets. With a simple bow and arrow, if you can hit something at 20 yards by aiming straight at it, then at 30 yards you'll have to aim quite a bit higher, and at 40 yards you'll have to aim much higher. The principle carries true to firearms, albeit over longer distances since the projectiles are traveling faster and thus travel further while under the same pull of gravity.