Generally yes, although there are lots of types of wire and if you go to any electronics hobby store you'll find that any of the thinner wires will do. If you're trying to plug it into a solderless breadboard (those boards with holes in them that you just push the components into, rather than have to solder them) then it's usually better to use single stranded wire of around 18AWG, rather than braided wire. If you're soldering, using a thinner wire (like 24-22AWG) makes it easier to bend, and braided wire tends to be easier to bend still.
In a lot of my projects I use the wire from ribbon cables if I'm soldering. It's super thin and flexible.
The question about the wire for microelectronic circuits depends on the amount of current in the system. But I've interfaced microcontrollers, and even motor controllers of up to 0.5A, using ribbon cable without any ill effects.
MIKE
