My Android Studio emulator is running in emulation mode instead of HAXM even though RAM size in AVD and HAXM is same (1 GB). Here is a screenshot showing my situation:
Can someone explain how to make sure my emulator is running in the correct/best mode?
HAXM stands for Hardware Accelerated eXecution Manager. It's a technology that enables your Android Virtual Device (AVD), an emulator, to run faster under Windows. It does not change the fact that the AVD is an emulator (vs. a virtual machine like Genymotion or Android-x86).
From the log messages in your image attachment, it looks like you are all set. I see "HAXM is working..." there and I also see the AVD all booted up and good to go.