No. You will find that after a few minutes most will be shut down, and when selecting to bring them back up they will start from scratch. The downside there would be the case where you were in the middle of something and had to do something else for too long, and when you go back to the first app you lose data or a spot in a game.
It is up to the application developer to use the correct Android process state management code into play if they wish to keep parts of an application alive when not the active application. Otherwise, the OS kills them as needed to maintain battery life.