Final answer:
The statement is true, as a storage device such as an external hard drive is used to store data that is not in active memory, employing magnetic fields for this purpose.
Step-by-step explanation:
The statement is true; a storage device is used to store data when the data is not currently being used in a computer's memory. Devices like an external hard drive, which works by magnetically encoding information, help in storing or retrieving data quickly. A fundamental concept in the evolution of digital technology has been the ability to manipulate and utilize magnetic fields for data storage. This principle allows for the creation of storage media that can maintain information even when a device is powered down, differentiating it from volatile memory which requires power to retain data.