Forum Moderators: open
No, that tag stops browsers from caching a page. Google uses the special "noarchive" directive in a <meta name="robots" content="noarchive"> tag.
Google's cache is not a true cache, because its operation is not transparent to the requestor. So "cache" is sort of a misnomer, but they had to call it something... I like the word "snapshot" they use when actually displaying their copy of page.
In case your question is more-generally aimed at network and user-agent caching (as opposed to Google's quasi-archiving feature), this caching tutorial [mnot.net] may be helpful. For checking your site's cacheability, this cacheability checker [ircache.net] is quite handy.
Jim