Methods for noninvasively measuring, or estimating, functional residual capacity or effective lung volume include obtaining carbon dioxide and flow measurements at or near the mouth of a subject. Such measurements are obtained during baseline breathing and during and shortly after inducement of a change in the subject's effective ventilation. The obtained measurements are evaluated to determine the amount of time required for exhaled carbon dioxide levels to return to normal—effectively an evaluation of carbon dioxide “washout” from the subject's lungs. Conversely, carbon dioxide and flow measurements may be evaluated to determine the amount of time it takes carbon dioxide to “wash in,” or reach peak levels within, the lungs of the subject following the change in the subject's effective ventilation. Apparatus for effective such methods are also disclosed.