Bring up Properties for Dimensions; from the Local Menu or use "Ctrl+F". On the Format page, change the "Dimension Size Scale" to something less than "1"; i.e. "0.125".
Dimension Size Scale: The scaling factor for displaying the dimension. Use this feature to change the overall size of a dimension instead of editing individual parameters (text size, arrowhead size, etc).
You create "Views" in Model Space and insert a "Viewport" into Paper Space. A Viewport will contain one of your Views. The views can be set to a precise scale in Viewport Properties. You could have several Viewports in Paper Space, all at different scales.
It may seem like overkill on something simple, but it becomes very useful on complicated drawings.