The balanced chemical equation for the reaction of chlorine gas with solid lithium bromide to produce chloride solution and liquid bromine is:

Cl₂(g) + 2LiBr(s) → 2LiCl(aq) + Br₂(l)

Here's a breakdown of the equation:

* Cl₂(g): Chlorine gas, in its diatomic form.

* LiBr(s): Solid lithium bromide.

* LiCl(aq): Aqueous lithium chloride (dissolved in water, forming a solution).

* Br₂(l): Liquid bromine.

This reaction is an example of a single displacement reaction, where a more reactive element (chlorine) displaces a less reactive element (bromine) from its compound.