Basic Lenz's Law question, loop near current carrying wire

[neener]

So I need to study Lenz's law and have only learned the absolute basics so far. I'm a little stuck on this study question. I'd really appreciate anyone who helps solidify my understanding of it a little bit!

Homework Statement

Consider a circular loop of wire near a long, steady-current-carrying wire, as shown below:

[PLAIN]http://img96.imageshack.us/img96/6899/phystopic3.gif

(1) What happens when the loop is moved up (as shown by direction v in the diagram)? Down? To the right? If current flows, is it CW or CCW?

(2) Is a magnetic force acting on the loop? If so, in what direction?

Homework Equations

None applicable, I don't think.

The Attempt at a Solution

So Lenz's law states that the flow of an induced current opposes whatever is causing it. So in attempting to answer each part of the question, I have:

(1) When the loop is moved up, current is induced which flows CCW (I'm sure of this). When the loop moves down, current is induced which flows CW. (I'm sort of sure of this). When the loop moves right (parallel to the wire), nothing happens, because no current is induced. (Again, sort of sure)

(2) A magnetic force from the current carrying wire is acting on the loop down into the page. The reason that I think this is from the magnetic field induced from current flowing in the wire as shown here:

[PLAIN]http://img847.imageshack.us/img847/4169/whyit1.jpg

Do I have these things right? Or do I have some parts backwards?

 

[flyingpig]

1)

You have to use two right hand rule for this, one is to find the direction of the B-field generated by the wire.

Then you got to think about what happens as you move the loop up and down, what's happening to the area? let me be more specific, what happens to the CHANGE in area?