Simple digital circuit schematic question
Yes, to both of your questions. The symbols used for "+5V" or "Vcc" or "ground" are simply notational conveniences which mean "all the stuff with this symbol is connected together". We can also assume, if it isn't explicitly drawn, that there is a 5V power supply connected across "+5V" and "ground".

It doesn't mean anything beyond that. It's a common beginner mistake to think that "ground" means something special. It doesn't.

An exactly equivalent schematic can be drawn without those symbols:







simulate this circuit &ndash; Schematic created using CircuitLab

...but since power supply connections are so common, that would mean some very long lines to follow over the schematic. Not a big deal for a simple schematic as you have, but for something non-trivial with a schematic spanning many pages, you can imagine...