Final answer:
The statement is false, as an upward and leftward movement along a demand curve indicates a reduction in the quantity demanded due to a price increase, not a decrease in demand.
Step-by-step explanation:
This statement is false. An upward and leftward movement along a demand curve indicates a reduction in the quantity demanded, not a decrease in demand itself. This movement is generally a response to an increase in the price of the good.
A decrease in demand refers to a situation where consumers are willing to buy less of the good at every price level, which is represented by a leftward shift of the entire demand curve. On the contrary, when the demand increases, there is a rightward shift in the demand curve, indicating that consumers are willing to purchase more of the good at each price level.