hi flare,
no, not all the time.
It just indicates when to strum the chord, be it one strum or a strumming pattern.
But if you see something like the chords DG next to each other like that then yeah usually one strum, but sometimes you can cheat and miss out the " one strummed chord"
Also sometimes the chord above a certain word is not always in the right place, you would have to know the song and the rythum of it so you can play it better, or you can put it in your songbook then go back and edit it so it is in the right place.
And for lines like this
G D C
one time I had a baby elephant
D
it didnt give me the time of day
you will see there is a big space from the C chord on the top to the D chord on the second line, this means you would continue to keep playing C.
If there are no chords at certain part of a song it is mostly indicated with N/C ( no chord)
hope this answers you question
and by the way, above is not really a song, I made it up for the purpose of explaining, but now I look at it, I might make a song up with those lyrics in it.
back to edit it, it loooks like all the chords are all together at the begining, oh well, i did try.
Ken