yeah, LCD displays have a refresh rate. Its basically the FPS.
... I think.
Edit* PAL is higher in resolution (576 horizontal lines) than NTSC (480 horizontal lines), but NTSC updates the on-screen image more frequently than PAL (30 times per second versus 25 times per second). What does this mean in practice? NTSC video is lower in resolution than PAL video, but because the screen updates more frequently, motion is rendered better in NTSC video than it is in PAL video. There is less jerkiness visible. When video source material is transferred to DVD, it is usually transferred in the format it was created in - PAL or NTSC, and the subsequent image has either higher temporal resolution (more frames per second - NTSC) or higher spatial resolution (more lines per image - PAL).
As for the LCD vs. CRT thing...
Typically, the optimal refresh rate for a CRT monitor is 75Hz, meaning that the image is redrawn 75 times every second. Too low of a refresh rate is a common occurrence and is often a major case of tired eyes and office fatigue. “Power users” will tell you they will often sit down at other people’s workstations and notice right away that the refresh rate was too low for comfort.
When dealing with LCDs, refresh rate is not much of a concern since they use a different technology to draw the image. Refresh rates as low as 40Hz or 60Hz are perfectly acceptable with LCD monitors.
What is important is the concept of response time – the time in milliseconds it takes for the screen to update the pixel colors. This is a big deal because a slower response time will give the illusion of “ghosting” – the effect of pixels not updating with new information fast enough, so that a trail is left behind a moving object. This usually happens in high action movies or games and is one of the main reasons why LCDs are often not recommended for gamers. This is changing however, as displays with 20ms – which are just fine for gaming - are becoming more prevalent.