I need help understanding WHY this is the correct answer

V Correct. A long, straight wire is in the same plane as a rectangular, conducting loop. The wire carries a constant current I as shown in the figure. Which one of the following statements is true if the wire is suddenly moved toward the loop? There will be no induced emf and no induced current. O There will be an induced emf, but no induced current. There will be an induced current that is clockwise around the loop. There will be an induced current that is counterclockwise around the loop. O There will be an induced electric field that is clockwise around the loop