I am a master's student currently deciding between two different Ph. D. programs in mathematics. The two programs have very different teaching opportunities as a grad student. One of the two programs I'm applying to allows (and encourages) students to teach a first-year calculus course, and the other one does not. However, I would be able to teach a college algebra or precalculus course at the other school. Would it reflect badly on me as a job applicant if I have no experience teaching calculus?
Part of the answer depends on your prospective area of expertise. Usually math professors teach the undergraduate courses that are closer to their research area. So, if you work in analysis, you will likely be assigned a calculus course; if you study algebraic geometry, you will probably get an introductory abstract algebra course; if you do research in Riemannian geometry, linear algebra.
That said, I would not worry much about which course you teach at this point. This distinction should not be your primary concern in deciding between two PhD programs. Any teaching experience will do for now, and you will have many opportunities to compensate in future. Moreover, most hiring committees will focus more on your research activity than on your teaching in any case.