Depending on what year you have (it's a good idea to include that in any post), you have at least two gages that use the 5 volts the low voltage regulator puts out. There are two main causes for it to fail, the contacts are fused, or the heating coil opened (burnt out). A bench top resistance reading across the two terminals will read zero ohms, which is the normal unpowered state. Take a reading from the female spade connection to the regulator case and you should get a low resistance reading which indicate that the coil is OK. The in-car test requires access to the regulator usually mounted on the back oft he instrument cluster, and with the ignition switch to accessories, you should get a reading of about 5 volts (it may go up to 10) on the input connection lead (black-green stripe) to the fuel gage. Most of the time, if the regulator was thought to be defective, it was replaced.
Jim