Final answer:
When the midpoint of a vertical bar magnet, with the north pole leading, is in the plane of a wire loop, the induced current is __not maximum but counterclockwise__ when viewed from above.
Step-by-step explanation:
When a vertical bar magnet is dropped through a horizontal loop of wire with the north pole leading, and the midpoint of the magnet is in the plane of the loop, there will be an induced current in the loop of wire. According to Faraday's law of electromagnetic induction, the induced current will be such that it creates a magnetic field that opposes the change in magnetic flux that caused it. In this scenario, to oppose the entrance of the magnet's north pole, the loop will act like a north pole at the face nearest to the magnet's north pole. By using the right-hand rule, if you face the approaching north pole, the induced current at point P, viewed from above, will be counterclockwise. However, since the magnet is at the midpoint, the rate of change of magnetic flux through the loop is not at its maximum; it's changing, but the rate of that change is neither increasing nor decreasing at that specific instant. Therefore, the induced current at point P, when the magnet's midpoint is in the plane of the loop, is not maximum but counterclockwise.