How to Zoom Out in Android Emulator

There is a way to zoom out of the emulator screen. After you have zoomed in appropriately and want to zoom out (return to original state), simply click the same zoom button again.

If instead, you want to zoom out in stages like the way you zoomed in, click the right mouse button.

Pressing and holding the Cmd (Ctrl) key, and then zooming in/out using the mouse works.