What is the Magnus effect?
What is meant by hydrostatic paradox?

Hint: Both the above mentioned terms are the phenomenon that are observed when there is involvement of the fluids. The Magnus effect is a phenomenon that is observed when a body moves horizontally while rotating about its own axis and the path traced by it gets curved. The hydrostatic paradox comes into the picture when water is poured in different shaped vessels connected to each other. Hence we will first define each of the above terminologies and then we will understand them one by one.

Complete step-by-step answer:
Magnus effect is an observable phenomenon that is commonly associated with the spinning object moving through the air or another fluid. The path of the spinning object is deflected in a manner that is not present when the object is not spinning.
Hydrostatic paradox is basically a phenomenon observed when the water is immersed in different shaped containers that are connected, then the water in these different containers will be at the same levels provided the base area of all the containers is the same. The figure below depicts the phenomenon.



Note: Now since we know what does the above principle mean let us try to understand them. Magnus effect basically occurs due to the rotation of the body while moving. When a body moves in air it experiences the air drag. But when the body rotates and moves, the upper section of the body opposes the flow of air while the lower section of the body allows more air to flow through the surface. This results in the difference in pressure on the two surfaces through which air flows. Therefore the surface through which air flows the fastest experiences an inward force and hence it translates in particular path but simultaneously gets curved.
From the word paradox itself we can imply that something unusual. Hydrostatic paradox is a phenomenon which occurs basically because the pressure due to the water column varies with depth and not the shape of the container. It is also to be noted that the container i.e. all the three should be open to atmosphere or not open to atmosphere.