a$\backslash$times $2=16$ points $3.$ The figure below shows a rectangular, conducting loop sitting in the magnetic field of a straight wire carrying a current $\backslash ($ I $\backslash ).$ When the current I varies in time, a current is induced in the loop. Let's assume that the current $\backslash ($ I $\backslash )$ in the straight wire decreases in time.

a$)$ Explain why a current is induced in the loop. Explain$/$Justify the answer.

b$)$ Is the induced current clockwise or counterclockwise? Explain$/$Justify the answer.

$(8$ pts $\backslash (\backslash$times $2=16\backslash )$ points$)$