The behavior of a permanent gas bubble in a liquid with an oscillating pressure field is analyzed with a linearized theory. If the assumption is made that conditions within the bubble are uniform, the thermodynamic relations found are as expected; i.e., at low frequencies the bubble behaves isothermally and at high frequencies the behavior becomes adiabatic. However, a more detailed analysis, which allows the bubble interior to vary not only in time but also in space, leads to an average isothermal behavior for the bubble even in the high-frequency limit