Multipliers,(built and LOCKED into the CPU normally these days), just take the M/B set FSB and does simple multiplication.
A PIII 500Mhz is built to run on a 100 mhz FSB M/B, and it has a 5x multiplier built into it. So, 100Mhz time 5 = 500Mhz. The motherboard runs at 100Mhz and the CPU runs at 500Mhz in this case..
All Intel CPU's built before the PII 300 were unlocked, so are all AMD K6 series CPU's, and you can also modify AMD Thunderbirds and Durons to make them unlocked also.
With a motherboard that will allow you to change multiplier setting, it is possible to run some CPU's at a speed higher than they were sold at. (One type of Overclocking)
All AMD Duron CPU's will run around 900Mhz, no matter which model you buy. Along with a good overclocking M/B, you can take a $40 Duron and get some of them up to 1 Gig.. just need a little higher voltage to the CPU, and a good heat-sink-fan,(HSF).
If you don't overclock, it's all automatically sensed anyway...so this is basically hardware..
But there is also some software programs for the AMD K6 series CPU's that will allow changing speed on the fly while in windows. Also I think most all of the NEW Laptop CPU's,(Mobile CPU's), have thus feature built into them. That's how they save battery power, software lowers speed,(multiplier), when not under heavy use and increases speed when needed...