The Kramers-Kronig relations, a result of causality, express a general identity for acoustic wave propagation in dissipative media, and are independent of the details of particular interactions between wave and media. They may be used to inspect any specific model for the acoustic wave propagation in random media. In this paper, the KK relations are extended to study the acoustic dispersion in bubbly liquids, i.e., liquids containing many air-bubbles. It is shown that comparatively the well-known Foldy formula may be more suitable for large bubbles than for smaller bubbles, Applications to a set of experimental data is also included.