The caterpillar crawls \( \frac{1}{2} \) inch in \( \frac{1}{4} \) minute.
To find out how far he can crawl in 1 minute, we can calculate how many \( \frac{1}{4} \) minutes fit into 1 minute:
\[ 1 \text{ minute} \div \frac{1}{4} \text{ minute} = 4 \]
So, in 1 minute, the caterpillar will complete 4 intervals of \( \frac{1}{4} \) minute.
Now, since the caterpillar crawls \( \frac{1}{2} \) inch in each \( \frac{1}{4} \) minute, in 1 minute it would crawl:
\[ 4 \times \frac{1}{2} \text{ inch} = 2 \text{ inches} \]
Therefore, the caterpillar can crawl 2 inches in one minute.