What does above full-employment equilibrium mean?

above full-employment equilibrium meaning in Law Dictionary

This takes place when the economic climate creates items at an increased price than usual. The level of normalcy is set by the gross domestic item and/or GDP. This causes the market to balance itself by stopping a shortcoming later on.

above full-employment equilibrium meaning in Business Dictionary

circumstances where an economy is producing goods at an increased level than it generally does, as measured by its gross domestic product (GDP). For this reason element, you will see no excess supply in the short-run, as specific market is in balance.