Final answer:
Assessing economic well-being through government-gathered economic indicators is true. These indicators provide essential insights into a country's economic health, aiding decision-making in trade, policy, and investment while also informing measures to tackle income inequality and poverty.
Step-by-step explanation:
Economic well-being indeed can be assessed by analyzing economic indicators gathered by the government. This is true because economic indicators are metrics such as GDP, unemployment rates, and inflation rates that provide insights into the economic performance and health of a country. These indicators help stakeholders including governments, businesses, and individuals make informed decisions related to trade, policy, and investment. For instance, a government may use these indicators to determine fiscal and monetary policies while businesses might use them to strategize on market entry or expansion.
Therefore, the presence of these indicators is crucial for understanding the dynamics of the global economy. It helps nations to navigate international trade, resolve military conflicts, and establish political and diplomatic relations. Without this knowledge, the potential for globalization and development could be significantly hindered. Furthermore, these indicators can also serve as a gauge for income inequality and poverty within nations, thus guiding policymakers in implementing measures to address these issues.