Faraday's Law of Induction

I. True or False: Explain if False.

1. A magnetic field is produced when a current is established in a conducting wire.

2. For an induced current to be established, a difference in potential is not necessary.

3. Faraday's law relates the voltage induced in a wire to the change in magnetic flux through a closed loop.

4. The induced electric current is such that the magnetic field it produces tries to keep the magnetic flux constant.

II. Determine the direction of the magnetic field corresponding to the current (I) in the following wire.