which IP will be called if /etc/hosts has entry 0.0.0.0/0 for load balancer

Question

Load balancer for our application myloadbalancer.myorg.net returns either of the active IP ( 165.a.b.c or 165.x.y.z ). If we keep an entry in /etc/hosts file for load balancer like below

0.0.0.0/0      myloadbalancer.myorg.net     alias_name

will load balancer still work in same way as it is working now and will return active IP ?

Can i also provide entry like below

165.0.0.0/32     myloadbalancer.myorg.net   alias_name

Which will work more efficiently ?

Thanks in advance.