As an illustration of a renormalizable, asymptotically-free model of induced gravity, we consider an $SO(10)$ gauge theory interacting with a real scalar multiplet in the adjoint representation. We show that dimensional transmutation can occur, spontaneously breaking $SO(10)$ to $SU(5){\otimes}U(1),$ while inducing the Planck mass and a positive cosmological constant, all proportional to the same scale $v$. All mass ratios are functions of the values of coupling constants at that scale. Below this scale (at which the Big Bang may occur), the model takes the usual form of Einstein-Hilbert gravity in de Sitter space plus calculable corrections. We show that there exist regions of parameter space in which the breaking results in a local minimum of the effective action, and a {\bf positive} dilaton $(\hbox{mass})^2$ from two-loop corrections associated with the conformal anomaly. Furthermore, unlike the singlet case we considered previously, some minima lie within the basin of attraction of the ultraviolet fixed point. Moreover, the asymptotic behavior of the coupling constants also lie within the range of convergence of the Euclidean path integral, so there is hope that there will be candidates for sensible vacua. Although open questions remain concerning unitarity of all such renormalizable models of gravity, it is not obvious that, in curved backgrounds such as those considered here, unitarity is violated. In any case, any violation that may remain will be suppressed by inverse powers of the reduced Planck mass.

44 pages, 5 figures, 2 tables. v2 has new discussion concerning stability of SSB plus related appendix. Additional references added. v3 is version to be published; contains minor revisions