To quickly duplicate things, just drag from one image window to another and then back. Here, I've typed a phrase I want to copy.

Dragging the text to the other window makes a copy of it there.

Dragging it from window two back to window one yields two copies of the same thing.

Now move the black copy over and slightly offset from the color original.

In the 'layer' tab, move the original layer on top so it overlays the black copy.

And voila - a text string with a clean sharp shadow. But what if you don't want such a sharp shadow? First move the two layers apart again so you can deal with them separately.

Then select the 'blur' tool off the menu

When you try to use it, it will ask if you want to simplify the layer; say Okay. Once you've done this, though, you can't edit the text as text - it has been changed to be pixels only. Now you can run the blur tool over the black text to make a fuzzy shadow.

Here I make the offset between the two layers greater so you can see the blurring - it has the effect of making the text appear to be hovering a greater distance off the surface than the closer, sharp shadow.

Yet another effect; working again on the layers separately, pick the blue layer this time and in the upper right corner, pick the 'layer styles' tab and select 'emboss'.

This gives each letter highlights and shadows that make them appear to be embossed.

Embossed text hovering over a fuzzy shadow.