The Poiseuille's law describes the relationship between the flow rate of a fluid through a tube (or vessel) and the radius of the tube. The resistance \( R \) in a tube is given by the formula:
\[
R \propto \frac{1}{{r^4}}
\]
where \( r \) is the radius of the artery. According to this law, if the diameter (and thus the radius) of the artery is reduced to one-third, the radius \( r \) becomes \( \frac{1}{3} \) of its original value. The change in resistance can be calculated as:
\[
\text{New resistance} = \left(\frac{1}{\frac{1}{3}}\right)^4 = 3^4 = 81
\]
Thus, the resistance increases by a factor of 81 times.
Thus, the correct answer is 81 times (2), as the resistance increases by a factor of \( 3^4 \) when the diameter is reduced to one-third.