Final answer:
The number of unemployed people in the economy is calculated using the unemployment rate of 6% and the labor force participation rate of 60%. With 200 million not in the labor force, the total adult population is 500 million, and the labor force is 300 million. Thus, the number of unemployed is 18.0 million.
Step-by-step explanation:
To calculate the number of unemployed people in the economy, we can use the provided unemployment rate and the labor force participation rate. Given that there are 200 million people 16 years or older not in the labor force and the participation rate is 60%, we first need to calculate the total adult population. Then we use the unemployment rate to find the number of unemployed individuals.
Total adult population = Number not in the labor force / (1 - Participation rate)
= 200 million / (1 - 0.60)
= 200 million / 0.40
= 500 million
Now, we calculate the labor force by applying the participation rate:
Labor force = Participation rate × Total adult population
= 0.60 × 500 million
= 300 million
Finally, we calculate the number of unemployed:
Number of unemployed = Unemployment rate × Labor force
= 0.06 × 300 million
= 18 million
Therefore, the number of people unemployed in this economy is 18.0 million, which corresponds to option B.