The answer is A. The program prints:
40

Why?
The loop remembers the biggest number it has seen so far, and replaces it whenever it finds a bigger one. This is how computers find the maximum.
Trace table
A trace table follows the program step by step. Here’s this one:
| n | n > biggest? | biggest |
|---|---|---|
| 25 | yes | 25 |
| 40 | yes | 40 |
| 5 | no | 40 |
| 9 | no | 40 |
| 37 | no | 40 |
The code again
numbers = [25, 40, 5, 9, 37]
biggest = 0
for n in numbers:
if n > biggest:
biggest = n
print(biggest)
Try it: change one number in the program and predict the new output before you run it.