Carroll was booked inside 10 minutes by referee Martin Atkinson after going down under a challenge from Newcastle goalkeeper Tim Krul.
Dalglish said: "We've no qualms about when Andy went down under the goalkeeper either. I thought it wasn't a penalty kick and that Andy was losing his balance anyway before he reached the goalkeeper, and so if he had got past him I think he would have fallen over.
"We don't have a problem with that. Maybe we have a problem with the yellow card because I don't think he was intentionally trying to get a penalty kick."