This problem is providing two reduction-oxidation (redox) reactions in which the oxidized and reduced species can be identified by firstly setting the oxidation number of each element:
Reaction 1: 2K⁺I⁻ + H₂⁺O₂⁻ ⇒2K⁺O⁻²H⁺ + I₂⁰
Reaction 2: Cl₂⁰ + H₂⁰ ⇒ 2H⁺CI⁻
Next, we can see that iodine is being oxidized and oxygen reduced in reaction #1 and chlorine is being reduced and hydrogen oxidized in reaction #2 because the oxidized species increase the oxidation number whereas the reduced ones decrease it.
In such a way, the correct choice is C.
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Most likely the answer is water and a salt. When a strong acid and strong base react the OH and H form water and the cation from the base and anion from the acid forms a salt. I hope this helps. Let me know if anything is unclear.
As the air molecules move through the valve they have friction as they hit the walls, and its this friction that causes it to heat up.