Step 1: Recognize the circuit configuration.
The circuit is a differential amplifier using a source-coupled pair and an ideal current source \( I_{SS} \). It operates with negative feedback to improve stability and control the gain.
Step 2: Apply the closed-loop gain formula for negative feedback.
The closed-loop gain for a negative feedback amplifier is given by:
\[
A_{CL} = \frac{A}{1 + A\beta},
\]
where \(A\) is the open-loop gain, and \(\beta\) is the feedback factor.
Step 3: Determine the feedback factor.
In this circuit, the feedback network directly connects the output to the input. Thus, the feedback factor \(\beta\) is approximately 1.
Step 4: Calculate the closed-loop gain.
Substituting the given values, \(A = 40\) and \(\beta = 1\), into the formula:
\[
A_{CL} = \frac{40}{1 + 40(1)} = \frac{40}{41} \approx 0.976.
\]
The closed-loop voltage gain is therefore approximately \(0.976\), which corresponds to the given option (1).
Final Answer:
\[
\boxed{0.976}
\]