Final answer:
The statement about Arrow arguing for government intervention in business operations in Chapter 22 is true. The chapter discusses the impact of government intervention on market prices, contrasting with previous assumptions of market freedom.
Step-by-step explanation:
In Chapter 22, it's clear that the assertion is made for the role of government intervention in business operations to control market prices. This is evidenced by the repeated statement that up until this chapter, markets have been considered free with no government intervention, but now the chapter will explore the effects of government intervention.
Specifically, the chapter aims to discuss the outcomes when the government intervenes in the markets to prevent the prices of goods and services from reaching extremes, either "too high" or "too low". It is implied that until now, the existence of free markets without government intervention has been the assumption; thus, answering the original question, true, Arrow indeed argues for the role of government intervention in business operations. This exploration is important as it examines the anticipated and other outcomes that occur when the government gets involved in economic activities.