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Answer anything reasonable they ask.
Whether it matters depends partly on the job for which you are applying. "Negotiable" is acceptable for some jobs, but not all.
A hiring manager for a job with an advertised salary, usually hourly wage, wants to know if you actually read the job posting and are willing to work for that wage. In this case, your answer should be the advertised wage, no more, no less.
For a job that requires specialization and that attracts applicants that may have prospects elsewhere, they often want to know if they can afford your expectations. Be honest here, but base it on what you can determine about what others doing the same or similar jobs in the area are making. They also may be trying to gage how extensive your research into the company is and whether you fully understand the job for which you are applying.
I have hired employees for places that advertised an hourly wage. With few exceptions, those who didn't answer this question on a job application or didn't include it in a resume' when asked were people who interviewed very poorly. They weren't obviously ambitious, displayed little motivation, and basically came across as people who wanted to punch a clock and not be bothered with things like actual work. Not answering this wasn't ever a deal-breaker with me, but it made me suspicious of their actual expectations, and I'd ask about it directly in the interview. It is much easier to answer this question on paper than it is when an interviewer throws out the question verbally, particularly in the context of "Why didn't you answer this question?" Unless you've thought about it beforehand, you won't answer this well, and if you have thought about it, you may as well put it in your resume.
All that said, some companies just put that there because it's part of some generic form they use. They may want it for some applicants and not care for others. If it were me and I wanted the job, however, I'd be safe and include it anyway.
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