Which two tools are instrumental in the process of color correction?

matte box and waveform monitor
color palette and DAW system
vectroscope and color palette
waveform monitor and vectorscope

waveform monitor and vectorscope

Explanation:

It is generally used for measuring as well as displaying the level or the voltage, of a video signal concerning the time. And the waveform monitor can be applied for displaying the overall brightness of the TV picture as well as it can zoom in for showing one or two video signals individual lines.

And the vectorscope is a special kind of oscilloscope that is being used for video or audio applications. The waveform monitor or the oscilloscope generally displays a signal plot wrt time, and the vectorscope shows an X-Y plot for the two signals, that can bring to light the details about the relationship in between those signals.

Hence, the correct option here is a waveform monitor and the vectorscope.