Answer
$-\dfrac{1}{8}$
Work Step by Step
Recall, the exponent tells us how many times to multiply the base (which is the fraction in this case) by itself. Thus, we obtain:
$-\left(\dfrac{1}{2}\right)^3=-\left(\dfrac{1}{2}\right)\left(\dfrac{1}{2}\right)\left(\dfrac{1}{2}\right)=-\dfrac{1}{8}$
