Listen to Justin: don't get a cheap acoustic. His reasoning is totally sound. Acoustic guitars are a lot harder to make than electrics and require much more hand craftsmanship, and cheap ones are really hard to play. If you can't afford a good acoustic, take his advice and get a cheap electric. A cheap, unplayable acoustic guitar will just frustrate you, and you'll quit playing.
How can you tell a cheapo acoustic from others? The main thing is the action. You should be able to easily play a barre chord at the 12th fret, and open E and the fretted E (on the 12th fret) should be in tune. The neck should have a uniform playability and there shouldn't be any dead spots when you play all over the neck, and no fret buzz. Forget about fancy abalone or mother-of-pearl inlays and elaborate finishes. Pick up the guitar and hold it right up to your face and look in the soundhole at the inside of the guitar. If you see any glue oozing between the joints inside it's sloppy and cheap workmanship, pass on it and get another guitar. The inside should be clean and dry. You shouldn't buy any instrument sight-unseen, before you can play it first or (if you are a beginner) get another player to check out for you.
It's a lot easier to find a playable AND cheap electric, like Justin recommends. But if you want an acoustic, spending more money is really, really worth it. There's something at every price point, but once you get around $2k (depends on make/model and YMMV) you start getting into good quality.