Final answer:
The volume of air available for gas exchange per minute is known as alveolar ventilation, which includes air reaching the alveoli for gas exchange and combines tidal volume with inspiratory and expiratory reserves, excluding residual volume.
Step-by-step explanation:
The volume of air available for gas exchange per minute is called alveolar ventilation. This term refers to the air that reaches the alveoli in the lungs, where gas exchange occurs, and it is a combination of the tidal volume (TV) that enters the lungs during quiet breathing and the air that goes in and out due to inspiratory reserve volume (IRV) and expiratory reserve volume (ERV). It does not include residual volume (RV), which is the amount of air that stays in the lungs after a forceful expiration and prevents the alveoli from collapsing. Thus, the answer to the question is B. Alveolar Ventilation.