Concept:
An Arithmetic Progression (A.P.) is a sequence in which the difference between consecutive terms remains constant.
This constant value is called the common difference.
If:
\[
a_1,\ a_2,\ a_3,\dots
\]
is an A.P., then:
\[
a_2-a_1
=
a_3-a_2
=
a_4-a_3
\]
Step 1: Check Option (1).
Sequence:
\[
1,\ \frac12,\ \frac14,\ \frac18,\dots
\]
Find consecutive differences:
\[
\frac12-1=-\frac12
\]
\[
\frac14-\frac12=-\frac14
\]
\[
\frac18-\frac14=-\frac18
\]
The differences are not equal.
Therefore, Option (1) is not an A.P.
Step 2: Check Option (2).
Sequence:
\[
\frac12,\ 1,\ \frac32,\ 2,\dots
\]
Find consecutive differences:
\[
1-\frac12=\frac12
\]
\[
\frac32-1=\frac12
\]
\[
2-\frac32=\frac12
\]
All differences are equal.
Therefore, this sequence forms an Arithmetic Progression.
Common difference:
\[
d=\frac12
\]
Step 3: Check Option (3).
Sequence:
\[
2,\ 5,\ 10,\ 17,\dots
\]
Differences:
\[
5-2=3
\]
\[
10-5=5
\]
\[
17-10=7
\]
Differences are not equal.
Therefore, Option (3) is not an A.P.
Step 4: Check Option (4).
Sequence:
\[
1,\ 2,\ 6,\ 24,\dots
\]
Differences:
\[
2-1=1
\]
\[
6-2=4
\]
\[
24-6=18
\]
Differences are not constant.
Therefore, Option (4) is not an A.P.
Step 5: Conclude the correct option.
Only Option (2) has a constant common difference.
Hence it is an Arithmetic Progression.
Final Answer:
\[
\boxed{\frac12,\ 1,\ \frac32,\ 2,\dots}
\]