Given this AWS SAM template snippet, what will happen when the API Gateway endpoint is called?

Given this AWS SAM template snippet, what will happen when the API Gateway endpoint is called?

{
  "Resources": {
    "MyFunction": {
      "Type": "AWS::Serverless::Function",
      "Properties": {
        "Handler": "index.handler",
        "Runtime": "nodejs18.x",
        "Events": {
          "ApiEvent": {
            "Type": "Api",
            "Properties": {
              "Path": "/hello",
              "Method": "get"
            }
          }
        }
      }
    }
  }
}