Oh hang on, wait a minute, I just realised the question is ambiguous. Remember Kirchoff's Circuit Rules which says, "the sum of the emfs around a circuit must come to zero."
The question asked, "indicate the polarity of the terminals P and Q when this occurs." This is ambiguous. There are two ways to interpret that part because there are two parts to the circuit.
(1) which branch of the conductor will appear to be more positive, and which branch will appear to be more negative.
OR
(2) which way will the voltmeter need to be connected to correctly indicate the induced emf.
According to interpretation (1) branch Q is more positive than branch P and conventional current flows from Q to P.
According to interpretation (2) the voltmeter will see P as more positive than Q, because that's the way the current is flowing between the terminals of the voltmeter.