Aww.... my first SES session

If its an upstream, yes it could.

to answer your question yes, but only the front ones. you can also check your mas air flow meter but not likely you trouble thogh. i would take it to ford for about $65 and have them pin point it, because the autozone hand held scanners are genaric code readers

To be able to tell if it's a 02 sensor your going to have to look at some live data.

You want to look at your MAF voltage and baro readings, also look at your long term fuel trims for both banks

p0174 is a lean code for bank 2 ( drivers side) If you notice the long term fuel trim is high on bank 2 but near normal for bank one then the cause is most likely a bad 02 or a misfire on bank 2.

Has the battery been recently disconnected? Because if it has the PCM will not be able to give you misfire codes, when the battery is disconnected KAM is lost and with it goes the misfire monitor untill it is relearned.