You have to investigate transformer and rectifier theory. The primary coil (load) is connected directly to the AC (source) input. As current flows through the primary coil (and in some cases a secondary and tertiary coil), voltage is dropped across the loads. This AC voltage is reduced to about 12 volts AC, and then the rectifier (probably bridged) circuits convert the AC to pulsed DC, which is then smoothed out to pure CD (filtered) by the capacitors.
As more and more components use the filtered DC, more current is drawn from the source, and, therefore, more wattage is available.
Without precise winding values, diode effeciency, capacitor values (time constants), and specific DC voltages in addition to the basic 12 VDC, the answer is probably. Maybe a little less at idle.
if you leave the computer on(as people tend to do),,,is the computer using up all the wattage? 500w is a lot of wattage, but is 500w being used when it's just sitting there.

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic