Yes
Explanation:
This chemical equation:
![Mg I_2 + Br_2 \rightarrow Mg Br_2 + I_2](/tpl/images/0300/7092/7257c.png)
is balanced, because the number of atoms of each element is the same on the reactant side and on the product side. In fact:
- Mg: one atom on the left, one on the right
- I: 2 atoms on the left, and 2 on the right
- Br: 2 atoms on the left, and 2 on the right
So, the reaction is balanced.