There is nothing in mojoPortal that controls this, it is possible to configure IIS to control expiration of static files, by default I think IIS allows cache of static files and browsers cache them.
Some related links:
http://technet.microsoft.com/en-us/library/cc770661%28WS.10%29.aspx
http://www.hanselman.com/blog/ForcingAnUpdateOfACachedJavaScriptFileInIIS.aspx
http://madskristensen.net/post/Add-expires-header-for-images.aspx
By default, static files are served directly by IIS without any involvement of ASP.NET
Hope it helps,
Joe