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That depends upon what you mean exactly by a "phone line". The set of wires they use to connect up a house in the UK has enough wires for two phone lines. But the second set are just wires until they are connected to something back at the exchange. But on a modern installation, it is possible get a second line without anybody doing any more wiring. Then there used to be a box that they used to use which did actually put two phones on one line by shifting one to a different frequency. But these were incompatible with modems, so they have recently been stripping them out where possible. Than, if you have an ISDN line (you probably don't), that will support two voice lines on a sing set of wires. Then, if you have a broadband connection, you can have several VoIP lines (Skype or similar) on the line at the same time as a single ordinary voice line. I bet you didn't expect such a complicated answer to a simple question.
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