No, or at least very little. This is because glycogen phosphorylase is activated in the presence of epinephrine as the result of cell signalling inside a live, intact cell. This question asks instead about a cell-free system, which would not lead to activation. No enzyme activity, or perhaps a very small amount depending on the exact nature of the non-activated enzyme, would result.
Work Step by Step
This question wants you to see that all of the steps of cell signalling, found in a living cell, are needed for the end result, the action of an activated enzyme, to take place. The signal itself is not enough without the pathway.