Yep, I'm with Tim on this. If you insist, then two 1/4" sheets glued together are stronger (but heavier) than a single sheet of 1/2". However, neither is optimal, and will result in a "twisty" tail.
Here's a picture of my 13-yr old building the fuselage of this year's Nats airplane. 1/2" thick "frame" with 1/64" plywood on both sides. The stiffest profile fuselage I've ever seen, and bare-wood weight was identical to the same size built-up fuze (SV-11 ARC). However, because the plywood grain is much denser than balsa, finished weight was minimal. Balsa requires a lot of finishing product (dope, filler, etc) to cover the pores. Next time will eliminate a lot of solid wood in the nose (electric!) and go to 3/4" thickness.
The 1/64" plywood is not cheap; hobby shops want about $25-28 for a 12"x48" sheet. It is cheaper if you buy 1/2 sheets (24"x48") from Aircraft Spruce, and especially if you go together and split the shipping costs with buddies in the area.