Yes, both the frequency and amplitude of a radio wave can be modulated independently. This is the principle behind various modulation techniques used in radio communication.
Frequency modulation (FM) involves varying the frequency of the carrier wave in accordance with the modulating signal (such as an audio signal). As the amplitude of the modulating signal changes, the frequency of the carrier wave is altered, resulting in frequency modulation.
Amplitude modulation (AM), on the other hand, involves varying the amplitude of the carrier wave in response to the modulating signal. The amplitude of the carrier wave is modified in proportion to the amplitude of the modulating signal, thus achieving amplitude modulation.
Both FM and AM modulation techniques are widely used in radio communication. FM modulation is commonly used for high-fidelity audio broadcasting, while AM modulation is often employed in applications such as AM radio broadcasting.