Final answer:
Newton's first law, not the third, is referred to as the Law of Inertia. The third law is about action and reaction, stating for every action, there is an equal and opposite reaction.
Step-by-step explanation:
It is false that Newton's third law is also referred to as the Law of Inertia. Newton's first law is sometimes called the law of inertia, which describes that a body at rest remains at rest, or if in motion, remains in motion at a constant velocity unless acted on by a net external force. Newton's third law of motion, on the other hand, states that for every action there is an equal and opposite reaction, which means the mutual actions of two bodies upon each other are always equal and act in opposite directions. These two laws are distinct parts of Sir Isaac Newton's groundbreaking work on motion and force.