Option 1 -> Incorrectly matches "Nod off" with "Raise prices" instead of "Fall asleep".
Option 2 -> Correctly matches all phrasal verbs: Nod off = Fall asleep, Jack up = Raise prices, Look up to = Respect, Wrap up = Finish something.
Option 3 -> Incorrectly matches "Nod off" with "Finish something" instead of "Fall asleep".
Option 4 -> Incorrectly matches "Jack up" with "To respect" and "Look up to" with "Finish something".
Hence, Option 2: (A) - (III), (B) - (I), (C) - (IV), (D) - (II) -> The correct meanings are: "Nod off" means to fall asleep (often unintentionally), "Jack up" means to raise/increase prices, "Look up to" means to admire or respect someone, and "Wrap up" means to finish or conclude something -> correct