Force on a bar magnet

Question

A bar magnet is freely falling vertically inside a conducting ring placed in horizontal plane. Will it fall with an acceleration equal to g, less than g or greater than g?

Answer 1

Less than g.

Since it generates energy in the conducting ring when passing through the ring, by conservation of energy, the magnet loses some kinetic energy (there are forces acting on the magnet.

See Lenz's law.

Answer 2

Here you go: http://www.youtube.com/watch?v=E97CYWlALEs.
And as Raindrop said, this is predicted by Lenz's law.