Final answer:
When the electromagnet is switched off, the magnetic flux through the loop decreases and induces a clockwise current in the loop, following Lenz's Law.
Step-by-step explanation:
When the switch on the electromagnet is opened, the magnetic flux through the wire loop decreases, and there is a clockwise current induced in the loop (as seen from the left). This is explained by Lenz's Law, which states that an induced current will flow in a direction that opposes the change that produced it. In this scenario, as the external flux decreases due to the switch opening, the induced magnetic field tries to maintain the existing flux through the loop, resulting in a magnetic field that induces a clockwise current in the loop.