Not really. A modem can certainly count how many bytes you sent or received. "Theres nothing like an odometer to measure..." Yes there is. Right there on my screen there's a little icon of two computers talking. It tells me that in the last 30 days I've sent 45 gigabytes and received 89 gigabytes.
On my laptop that total is reset every time I reconnect to my network, and that's quite often. On top of that, that's traffic through my network, which includes big backups. There's no information about traffic to and from the internet there.
I'm not aware of a simple way to determine how much traffic has passed through my ADSL modem from the internet.
"What a wonder is USENET; such wholesale production of conjecture from such a trifling investment in fact." -- Carl S. Gutekunst