Final answer:
The reaction MgCl2 + Li2CO3 → MgCO3 + 2LiCl is a double displacement reaction where two compounds exchange ions.
Step-by-step explanation:
The chemical reaction MgCl2 + Li2CO3 → MgCO3 + 2LiCl is an example of a double displacement reaction. In this process, two compounds exchange ions to form two new compounds. Magnesium chloride (MgCl2) and lithium carbonate (Li2CO3) exchange their positive ions, resulting in the formation of magnesium carbonate (MgCO3) and lithium chloride (LiCl).