Final answer:
The period in question is the Upper Paleolithic period, characterized by notable advancements in technology and art including cave paintings and the development of more sophisticated tools.
Step-by-step explanation:
The European archaeological period marked by a significant increase in technology and a variety of art starting around 35,000 years before present (yBP) is known as the Upper Paleolithic period. This period is the most recent subdivision of the Paleolithic or Old Stone Age, which itself is divided into three sub-periods: the Lower, Middle, and Upper Paleolithic. The Upper Paleolithic era saw the emergence of remarkable advancements including cave art, such as that found in the famous Chauvet Cave in France, Venus figurines, and the increased use of bone and antler in the creation of tools and jewelry. Additionally, this period is characterized by the development of more sophisticated stone tools and the earliest undisputed examples of representational image-making.