Yes.  In the parameter for the numerical response, you can use the following:

2e  (answer will display as 1.33e01)
2f  (answer will display as 1.33)
$format (you can use a variable where $format evaluates to something like "2e".

For those who use XML to code thier problems:

<numericalresponse answer="$answer"> (shows all digits)
<numericalresponse answer="$answer" format="2e"> (for example prints 1.23e-04)
<numericalresponse answer="$answer" format="$format"> 
<numericalresponse answer="@answer"> (shows all digits of all answers)
<numericalresponse answer="@answer" format="2e"> (shows all answers in 2e)
<numericalresponse answer="@answer" foramt="$format"> 
<numericalresponse answer="@answer" foramt="@format">

If you want your answers to a numerical problem to display only digits
after the decimal when answers are shown, then enter "2f" in the format
box next to the numerical answer box.

2f - 3.333333 will be displayed 3.33
0f - 3.333333 will be displayed 3
2E - 333.3333 will be displayed 3.33 E2