There are various synonyms for the phrase "be the equivalent of." One of the most commonly used synonyms is "be equal to." This phrase suggests that two things are of the same value or have the same significance. Similarly, other synonyms include "amount to," "correlate with," and "match up to." These phrases all imply that two things can be compared or measured against one another in terms of their perceived value or importance. Additionally, some other synonyms for "be the equivalent of" include "stand for," "represent," and "mean." These phrases suggest that one thing can be used to signify or symbolize another thing.