Mac 10.7,Audacity 2.0,5, and only Mono sound

I cannot get stereo sound recordings. I only have mono in the panel just above the Audio Tracks. Where do I change it to stereo?

Audacity > Preferences > Devices > Recording.
This is assuming you’re recording from a device that has stereo. Some USB microphones don’t

That is functionally identical to Device Toolbar, so won’t help if Device Toolbar only shows mono.

What device exactly are you recording from? If the device does support stereo, open Applications/Utilities/Audio MIDI Setup. Configure the input for stereo, then restart Audacity.