If you need to create a Spring Boot component responsible for handling HTTP requests and responses, which annotation should you use, and how would you set up the methods within this component?

In Spring Boot, you would use the @RestController annotation for creating components that handle HTTP requests and responses. Methods within this component should be annotated with @RequestMapping or its shortcut annotations like @GetMapping, @PostMapping, etc., to define the request mapping for each method. The @RestController annotation combines @Controller and @ResponseBody, making it suitable for RESTful web services.