If you touch the hot and ground conductor at the same time in a 120 volt ac power outlet will that kill you?

It depends :>)

The situation matters. Normally an adult in good health, physically dry, wearing street cloths will just momentarily get a shock that causes racing of the heart and muscle reflex action. Depending on the human skin resistance and nerve sensibility, which varies with individuals, this "shock" may seem like anything from a "slight tingle" to a traumatic shock event taking minutes to recover. It is seldom fatal under these dry skin conditions.

However, anything that lowers the skin resistance and makes the electric circuit through the individual easier for the current to pass, will worsen the shock effect on the human. So by changing the situation the same person could receive anything from a tingle to a shock that stops the heart, all from 120 volt ac line power.

It could do. Much depends on your physical make-up and where you touch the two conductors, but anything over 60 volts is potentially fatal.