How to test Dynamic Type (larger font sizes) in iOS Simulator

Question

Changing Dynamic Type settings in iOS can be done manually (Settings > General > Accessibility > Larger Text).

But this does not appear to work in the current Simula

Answer 1

As of Xcode 8, there is a better option than the undocumented launch arguments: Accessibility Inspector. It is covered in this talk and can be found under Xcode > Open Developer Tool.

Update for Xcode 11+

There is a new Environment Overrides option. Find more information in this answer.