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text_leading(#pixels) sets the vertical space between lines of text. Will be reset by subsequent calls to text_size().
text_ascent() returns the height of the font above the baseline.
text_descent() returns the height of the font below the baseline.
Adding the two will give you the total height of the current font (at its current size).
text_width(string) returns the width of the string in the current font and size.
Here is an example that uses font metrics to draw a box around some text.