Yes -- and the reason that 1.4x is the most popular teleconverter power level is because that number ... 1.4 ... is extremely close to the actual value for the square root of 2.
In photography, that number (1.414) is significant. Each full "f-stop" of aperture is actually the previous stop... multiple by that value. It also works for distances when using a flash. Each time the distance increases by that multiplier, the amount of light is exactly halved.
This is because if you increase the radius of a circle by that value, then the area of the circle is exactly doubled.
So using a 1.4x tele-converter keeps the math really easy... you just change the aperture by 1 full stop.