Yes
Clock Rate: The clock speed typically refers to the frequency at which a chip like a central processing unit (CPU), one core of a multi-core processor, is running and is used as an indicator of the processor's speed.
Instruction cycle: An instruction cycle (also known as the fetch–decode–execute cycle or the fetch-execute cycle) is the basic operational process of a computer. It is the process by which a computer retrieves a program instruction from its memory, determines what actions the instruction dictates, and carries out those actions. This cycle is repeated continuously by a computer's central processing unit (CPU), from boot-up to when the computer is shut down.
2 ghz is clock rate. (frequency)
Time period = $\frac{1}{frequency }$
