Explanation:
The rule we use is (a^b)^c = a^(b*c). It says to multiply the exponents when we raise one exponential expression to another exponent. The base stays the same.
So, (2^4)^3 = 2^(4*3) = 2^12
You could take the slightly longer path to say the following
(2^4)^3 = (2^4)*(2^4)*(2^4) = 2^(4+4+4) = 2^12