Convert 16 g Fe2O3 --> moles Fe2O3 using the formula mass of Fe2O3
Convert moles Fe2O3 ---> moles O2 using the stoichiometry of the balanced equation (3moles O2 per 2 moles Fe2O3)
Then convert moles of O2 into grams of O2 using the molar mass of O2
If you need to calculate the volume of O2 gas you will need to know the temperature, and pressure of the O2 sample using V = (nRT)/P