Simplify the following. Use the \( { }^{\wedge} \) symbol for the exponent if needed. \( \left(\frac{2}{3}\right)^{-1} \)

To simplify \( \left(\frac{2}{3}\right)^{-1} \), we apply the rule that states raising a fraction to a negative exponent means taking the reciprocal of that fraction and making the exponent positive. This gives us: \[ \left(\frac{2}{3}\right)^{-1} = \frac{1}{\left(\frac{2}{3}\right)} = \frac{3}{2}. \] Thus, the simplified form is \( \frac{3}{2} \).