| 
 Ordinarily, you would say "yes", assuming that the comments are correct.  | 
start:   ori   $8,$0,4      # $8 = 4
         ori   $9,$0,12     # $9 = 12
         addu  $10,$8,$9    # $10 = 12+4 = 16
         sll   $10,$10,2    # $10 = 16*4 = 64
 | 
The answer assumes that execution starts
at start.
What if execution started at the
addu
instruction? 
Registers $8 and $9 would probably contain
different numbers.
That could happen if
the following code
were somewhere 
in the program:
         ori   $8,$0,99     # $8 = 99
         ori   $9,$0,43     # $9 = 43
         j     start+8      # jump to the second statement after start
start
is a symbolic address that stands for
the first instruction's run time address.
start+8
stands for the address 8 bytes away.
The jump instruction transfers control to that address.