Can Search Engine Spiders See Dynamic Content?

I want to make a web page using PHP codes to require() a list of keywords to put in between the meta keywords tag. If I did this, would the search engines be able to see these PHP generated keywords, thus making it more SE friendly?

Yes, they will see it. It doesn't depend on the search bots, since PHP is a server side language, and it deliveres HTML code - which they can easily read.