Yes, but your gold per head is the same. Sure you can make gold on 5 characters and spend it all on 1 character if your only purpose multi-boxing is to help out your (solo) main.
What Khatovar said about everything that drops in the instance being yours is probably a more relevant statement. Anything that involves grouping is an advantage for multi-boxers, instances, group quests, etc. No need to wait to form a group or get people to the instance or replace people. Get in, get out. Everywhere else your gold / head earned is probably similar to a solo.
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