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This paper takes a microeconomic perspective and examines conditions in the small which appear to underlie irregular behavior in the large. The point of departure is \\textit{R. H. Day}'s [Amer. Econ. Rev. 72, 406-414 (1982)] nonlinear version of the neoclassical aggregate growth model which exhibits both conventional and irregular dynamics. The microeconomic approach, which employs one-dimensional cellular automata to simulate depatures from equilibrium investment paths, yields information on the likely frequency of chaotic phenomena and on their expectational properties.    In particular, the automata-theoretic approach generates a rigorous and easily-applied classification scheme for dynamic systems and the data produced by them. It is shown that plausible variations in business behavior within a deterministic microeconomy support chaotic macrodynamics as well as two simpler types of behavior: uniformity over time and regular periodicity. 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