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You pretty much answered your own question.  A modulator will not increase the resting carrier any but it will well - MODULATE the carrier.  Gives a LOT more swing.  Often they are used ahead of amplifiers.


An amplifier amplifies.  A modulator modulates. Can an amplifier work as a modulator?  Sure it can but at a higher level.  Turn on the amp and hit the dead key, there is one level of output.  Start speaking into the mic and watch the meter go up. 


A true modulator will not increase the resting carrier much, or at all above stock, but will provide higher output while speaking.


To the untrained eye they appear identical from a component point of view.  I don't know what exactly the difference in construction is that makes one a modulator and another an amplifier.  But they are two different devices.