In Rome in August, yes you can expect some things to be closed, particular in the days surrounding the 15th, Ferragosto. But you can also expect plenty of shops and restaurants to be open, even all month long.
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August is typically Italy's hottest month, and that's coupled with high humidity in many parts of the country. This is one of the main reasons August is the vacation month for most Italians (and many other Europeans) – they hang “closed” signs on their city storefronts and make a beeline for the nearest beach.
Monday is the traditional day of closure for museums and heritage sites. There are some exceptions, but generally you shouldn't rely on being able to visit any archaeological site, museum or gallery on a Monday. The vast majority are open every day from Tuesday to Sunday, but it is always advisable to check in advance.
Throughout Europe in July and August, expect high temperatures — even sweltering heat — particularly in the south. Don't discount July and August. Although Europe's tourist crowds can generally be plotted on a bell-shaped curve that peaks in July and August, there are exceptions.