Hello Tjr2010, welcome to the Seven forums.
Short answer: No.
A bit longer: A virtual machine is an individual machine, like any other computer. All programs and applications needed on a virtual machine must be locally installed on it in order to be able to run them. A good example is an antivirus application: every virtual machine you have need their own AV application installed, they are not protected by the AV solution you have installed on your host system, they simply can and will not use the one installed on your host machine.
In your case this means for instance that if you have let's say Microsoft Office 2010 installed on your host system (Windows 7) and you would like to use those Office apps also on your guest system, the Windows 8 virtual machine, you'd need to install Office on that virtual machine, too.