The reaction between magnesium oxide (MgO) and dilute nitric acid (HNO₃) produces magnesium nitrate (Mg(NO₃)₂) and water (H₂O). The balanced chemical equation for this reaction is:
\[ \text{MgO (s)} + 2 \text{HNO}_3 \text{ (aq)} \rightarrow \text{Mg(NO}_3\text{)}_2 \text{ (aq)} + \text{H}_2\text{O (l)} \]
This equation shows that one mole of magnesium oxide reacts with two moles of nitric acid to produce one mole of magnesium nitrate and one mole of water.