Step 1: Set up the original system.
Two masses $M_1$ and $M_2$ are connected over a smooth pulley, with $M_2$ providing the driving pull along an incline of angle $\theta$. The driving force is $M_2 g\sin\theta$ and the total mass being accelerated is $M_1 + M_2$.
Step 2: Write the initial acceleration.
\[ a = \frac{M_2 g\sin\theta}{M_1 + M_2} \]
Step 3: Apply the changes to the masses.
Now $M_1$ is doubled to $2M_1$ and $M_2$ is halved to $\dfrac{M_2}{2}$. The driving force becomes $\dfrac{M_2}{2} g\sin\theta$ and the total mass becomes $2M_1 + \dfrac{M_2}{2}$.
Step 4: Write the new acceleration.
\[ a' = \frac{\frac{M_2}{2} g\sin\theta}{2M_1 + \frac{M_2}{2}} \]
Step 5: Clear the fractions by multiplying top and bottom by 2.
\[ a' = \frac{M_2 g\sin\theta}{4M_1 + M_2} \]
Step 6: Express $a'$ in terms of $a$.
Divide $a'$ by $a$: the common factor $M_2 g\sin\theta$ cancels, leaving \[ \frac{a'}{a} = \frac{M_1 + M_2}{4M_1 + M_2} \] So \[ a' = \left(\frac{M_1 + M_2}{4M_1 + M_2}\right)a \] which is option (1). \[ \boxed{\left(\dfrac{M_1 + M_2}{4M_1 + M_2}\right)a} \]