The macroscopic change in the specific impedance of a liquid was analyzed f
rom a microscopic viewpoint on the basis of bubble dynamics. A shift of the
electrical characteristics of an ultrasonic vibration system, whose acoust
ical load includes a contribution from cavitating bubbles, was clarified an
alytically. Namely, when the bubbles begin to collapse, the real part of th
e specific impedance decreases gradually. On the other hand, the imaginary
part rapidly becomes significant compared to the real part. Therefore, the
liquid becomes a light acoustical load, and the amplitude of the electric a
dmittance at the resonant increases rapidly. Moreover, the resonant frequen
cy approaches that in a system without an acoustical load.