Final answer:
The statement is true; higher frequency waves with equal amplitude to lower frequency waves carry more energy, as energy transfer rate depends on both amplitude squared and frequency squared.
Step-by-step explanation:
The statement 'If amplitudes are equal, high frequency waves have MORE ENERGY than low frequency waves' is true. In the context of wave physics, frequency is directly proportional to energy, and so increasing the frequency will also increase the energy of the wave. This is particularly evident in the photoelectric effect, where the frequency of incoming light affects the kinetic energy of ejected electrons. Moreover, energy transfer rate in mechanical waves is proportional to both the amplitude squared and the frequency squared. Consequently, for two waves with equal amplitude, the wave with the higher frequency will transfer more energy over a given period than a wave with a lower frequency.