Can wind/air that is moving at average speeds be slowed down by the cause of Friction? Also, Can Air bubbles in water be slowed down because of Friction? Please cite your sources.
Air is affected by friction. A brief search of AMS journals shows over 14,000 times friction is mentioned. How it is manifested in the equations that describe the atmosphere is complicated.
Let's think of wind as 'air moving' or perhaps space moving which air occupies. At some point, called the roughness length, the wind is 0 m/s (or knots or mph). If such a thing does not exist, then the earth would move with the wind (which is legitimate thing with blowing dust/snow). Concerning this, the atmosphere produces a frictional torque on the earth, and vice-versa. A metric to gauge the influence of friction is the friction velocity. Perhaps, most notably, friction is a major cause on why the surface wind and geostrophic wind are not the same.
Regarding air bubbles in water, I would say it has some effect, but is probably not the dominant effect. That is, unless you consider viscosity to be a manifestation of friction (which it is). If you consider viscosity to be a form of friction, then air has friction within itself. Viscosity is often considered to be so small that it is ignorable, unless you are dealing with micrometeorology or ocean dynamics (see Ekman transport). But even in micrometeorology, the few times true viscosity (not eddy viscosity) is not ignorable is within the dissipation of turbulent kinetic energy.