for the sound, it's a), but it's not "air." it's gases that form in the joint. you pop it, it makes the sound, and the gases get reabsorbed into the surrounding tissue.
as for arthritis, no, it doesn't cause it. i broke my thumb a while back and asked my orthopedic surgeon about it, and according to him, no, it doesn't. that doesn't mean that further research won't change that, but so far that claim is unsupported.
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shabbat shalom, mother fucker! - the hebrew hammer
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