The correct answer is C because the success of an inflation-targeting central bank is often attributed to three key qualities: independence, credibility, and transparency. These attributes ensure that the central bank can effectively manage inflation without political interference, maintain public trust, and communicate its policies clearly.

• A is incorrect because fiscal policy primarily focuses on influencing aggregate national output (real GDP) through government spending and taxation, not the qualities of a central bank.

• B is incorrect because the monetary transmission mechanism describes how central bank policies (like interest rate changes) affect the economy through channels such as bank lending, asset prices, and exchange rates, not the qualities of a central bank.

This question tests the candidate's understanding of the foundational principles of central banking and monetary policy frameworks.